Deal Opens Opportunities for Wind + Storage Development in Southwest Power Pool
AMARILLO, Texas–(BUSINESS WIRE)–GlidePath Power Solutions (GlidePath), one of America’s leading independent energy storage developers, today announced its acquisition of a 149 MW portfolio of wind farms in North Texas. The transaction adds to GlidePath’s operating portfolio of U.S. wind, solar and storage projects and provides the company with a unique opportunity to optimize the performance of the wind farms though the addition of battery storage.
This latest acquisition brings GlidePath’s operating portfolio to more than 445 MW, in addition to its development pipeline of more than 1 GW of battery storage projects across the United States. GlidePath is a portfolio company of Quinbrook Infrastructure Partners, a specialist investor in low-carbon and renewable energy infrastructure.
The wind portfolio, acquired from Exelon Generation, is comprised of eight distributed wind energy projects located north of Amarillo that serve the Southwest Power Pool (SPP) market. Terms of the sale were not disclosed.
GlidePath’s operations team will optimize the performance of the wind farms while the company explores opportunities to develop on-site battery storage systems, which it is believed would be the first battery storage projects in SPP territory.
“The high penetration of wind energy in North Texas offers us an excellent opportunity to pair these facilities with the latest battery storage technology,” said David Braun, President of GlidePath Asset Management. “We look forward to managing these wind assets in a way that will hopefully strengthen reliability of supply in the local electric grid and deliver benefits for Texas power consumers.”
This acquisition follows GlidePath’s recent announcement of the Prospect Storage project, a 10 MW/MWh standalone battery project located in the ERCOT market about 50 miles south of Houston. Prospect Storage is currently in advanced construction.
GlidePath’s development pipeline of more than 1 GW of battery storage projects includes multiple new facilities at various stages of permitting approval and pre-construction planning in New York, Texas and throughout the PJM grid operator’s service territory.
GlidePath Power Solutions is a leading developer of distributed power solutions spanning multiple technologies and U.S. power markets. Led by a team of power industry veterans, GlidePath has successfully developed multiple battery storage projects in the U.S. and is actively progressing a multi-technology project development portfolio exceeding 1,000 MW of planned distributed power capacity. Chicago-based GlidePath is a portfolio company of Quinbrook Infrastructure Partners, a specialist investor in low-carbon and renewable energy infrastructure. For more information, visit www.glidepath.net.
Quinbrook Infrastructure Partners (www.quinbrook.com) is a specialist investment manager focused exclusively on lower carbon and renewable energy infrastructure investment and operational asset management in the US, UK and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested over US$ 17 billion in energy infrastructure assets since the early 1990’s, representing over 30GW of power supply capacity. Quinbrook’s investment and asset management team has offices in Houston, London, Jersey, and the Gold Coast of Australia. Quinbrook has completed multiple investments in both utility and distributed scale wind power, gas fired power reserve and ‘smart grid’ projects in the US, UK and Australia and currently manages Cape Byron Power (www.capebyronpower.com), one of Australia’s largest base-load 100% renewable power generators.
Peter Gray, Aileron Communications