Plus Power Secures Additional $82 Million of Tax Equity for Battery Storage Projects
THE WOODLANDS, Texas, May 1, 2024 /PRNewswire/ -- Today, Plus Power™ announced the closing of an $82 million tax equity investment from Morgan Stanley for the 90 MW / 360 MWh Superstition Energy Storage facility in Gilbert, Arizona.
- "Plus Power welcomes Morgan Stanley's support in accelerating standalone battery energy storage deployment in a market and location where our project can provide critical services," said Josh Goldstein, chief financial officer at Plus Power.
- Plus Power previously raised nearly $100 million in tax equity investment from Greenprint Capital Management for its Ebony Energy Storage facility in February 2024.
- In late December 2023, Plus Power began operations at its second Texas facility, the 300 MW / 600 MWh Rodeo Ranch Energy Storage facility, which is currently the largest operating standalone battery storage facility in ERCOT.
- Plus Power has a rapidly growing portfolio of large-scale lithium-ion battery systems in more than 25 states and Canada and is currently executing on 10 gigawatts of battery storage capacity in transmission interconnection queues.