Granite Source Power Sells Over 1GW of BESS Projects

Granite Source Power, LLC (GSP) has successfully sold nearly 1,250 MW of standalone battery energy storage projects across multiple markets, including ERCOT, SPP, and ISONE.

Formed in 2022, GSP has rapidly expanded its pipeline to nearly 5 GW of battery storage projects spanning ERCOT, NYISO, ISONE, PJM, and SPP, reflecting the high demand for its well-sited, de-risked projects.

This latest sale marks a significant milestone for GSP, underscoring the strength of its development strategy and the success of its partnership with New Energy Capital (NEC), formed in 2023.

The transactions were completed through separate purchase agreements with multiple buyers, and the projects are expected to achieve commercial operation dates (CODs) between 2025 and 2027.

Marc Rizzo, Co-Founder of GSP, expressed excitement about the partnerships: "In partnering, GSP and NEC have combined a tremendous amount of experience and success in renewable project development. We are developing assets in strategic locations in diverse power markets.  To date this approach has resonated well with project buyers, going forward we are looking to grow our partnerships with both existing and new buyers,"

Patrick Fox, partner at New Energy Capital, commented on the success of the partnership: "We are thrilled to expand our partnerships and connect our projects with reliable buyers. In competitive landscapes, identifying appealing and unique opportunities has been crucial for enhancing the marketability of our projects. Our collaboration with NEC has been instrumental in this regard, enabling us to swiftly seize and implement value-adding opportunities that ultimately benefit the buyers of our projects."