Energy storage is the key to the power grid becoming more dynamic and adaptable by enabling utilities, end users and third parties to store or release electricity on demand. Energy storage can increase resiliency, provide backup power during power outages, stabilize the grid, lower the cost of meeting peak power demand, increase the value of wind and solar installations, reduce transmission infrastructure costs and provide numerous other benefits.
A highlight of our energy storage experience is advising the lenders to Bolt Energy for the construction and expansion of an up to 490 MW/1,525 MWh partially contracted portfolio of three battery energy storage projects located in California. This is the largest financing of battery energy storage systems to date, and one of the battery energy storage projects in the portfolio, Gateway Energy Storage, is the largest in the world.
A highlight of our energy storage experience is advising the lenders to Bolt Energy for the construction and expansion of an up to 490 MW/1,525 MWh partially contracted portfolio of three battery energy storage projects located in California. This is the largest financing of battery energy storage systems to date, and one of the battery energy storage projects in the portfolio, Gateway Energy Storage, is the largest in the world.