Energy Storage News•about 2 months ago
Plus Power secures US$160 million for New England BESS projects
Key Takeaway
This significant tax equity investment underscores the financial viability and accelerating deployment of grid-scale battery storage, driven by policy incentives, in critical markets like New England.
AI Summary
- •Plus Power secured US$160 million in tax equity from Morgan Stanley for two battery energy storage system (BESS) projects.
- •The projects are located in Massachusetts and Maine, indicating active BESS development in the New England region.
- •This successful financing highlights the growing attractiveness and bankability of BESS investments, likely leveraging IRA tax credits.
- •For developers, this signals robust financing options for BESS; for large loads, it points to increasing grid reliability and potential for demand-side management opportunities in New England.
Topics
capacity-marketfinancingirapolicystorage