Equinor, a forward-looking energy company focused on high-value, growth-oriented renewables, has granted approval for its initial two battery storage projects in the United States. These projects emerged following Equinor’s acquisition of East Point Energy in the summer of 2022.
Together, the two projects boast a combined capacity of 110 MW, providing a crucial source of energy security for the Texas grid once they become operational. Construction has already commenced on the Sunset Ridge Energy Center in Frio County, Texas, while the Citrus Flatts project in Cameron County, Texas is in the preparation phase.
Andrew Foukal, CEO of East Point Energy, emphasized the significance of energy storage: “Balancing supply with the increasing demand for energy in Texas requires essential energy storage.
We are thrilled that our projects will contribute to a more renewable, resilient, and cost-effective grid for the Cameron and Frio communities, as well as the broader ERCOT market.”
East Point Energy, headquartered in Charlottesville, Virginia, specializes in originating, developing, constructing, and operating energy storage projects. As a wholly owned subsidiary of Equinor, the company maintains a project pipeline of approximately 3 GW of battery storage initiatives across the US.
Christian Lie Hansen, Equinor’s Vice President of Onshore Renewables Americas and Chair of the East Point Energy board, outlined their strategic vision: “Our goal is to establish a robust and diversified battery storage portfolio with scalability.
Leveraging East Point Energy’s capabilities and synergies with Danske Commodities, our ownership in East Point Energy provides a solid foundation for creating a substantial and profitable battery storage position across attractive US power markets, aligning with our market-driven power producer strategy.”
source: Equinor
