WattBridge Closes Finance on Fifth New Peak-Power Facility in Just 20 Months

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HOUSTON, Dec. 16, 2021 /PRNewswire/ --WattBridge Energy, LLC announced financial closing on the 288-MW Brotman project, the company's fifth peak-power installation in ERCOT and the Greater Houston area in just 20 months.

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PR NewswirePR Newswire
Retrieved on: 
Thursday, December 16, 2021
Information
Tags: 
Storm, Weather, Solution, February 13–17, 2021 North American winter storm, Government, LLC, Public utilities commission, Wind, Emergency management, CoBank, Plant, Time, TERC, Research, Nomura Securities, Engineering, LM6000, 3rd Brigade Combat Team, Director of Revenue of Missouri v. CoBank ACB, Maintenance, Brotman, State, EPC, Technology, Renewable energy, Electric power industry, Greater Houston, ERCOT
Geotags: 
HOUSTON, MISSOURI, SEDALIA, BRAZORIA COUNTY, TEXAS
Summary
Key Points: 
  • HOUSTON, Dec. 16, 2021 /PRNewswire/ --WattBridge Energy, LLC announced financial closing on the 288-MW Brotman project, the company's fifth peak-power installation in ERCOT and the Greater Houston area in just 20 months.
  • "I am pleased to see a Texas company like WattBridge moving forward with quick and effective solutions utilizing American jobs to do just that."
  • The ability to steadily build to 1,824 MW in just 20 months is made possible by a unique business and collaborative model, says WattBridge President, Mike Alvarado.
  • Adding that together means we'll accelerate plants like Brotman from close of financing to support for peak-power demand in just 16 months."


WattBridge Closes Finance on Fifth New Peak-Power Facility in Just 20 Months

HOUSTON, Dec. 16, 2021 /PRNewswire/ -- WattBridge Energy, LLC announced financial closing on the 288-MW Brotman project, the company's fifth peak-power installation in ERCOT and the Greater Houston area in just 20 months. Anticipated to be online in early 2023, the Brazoria County plant represents the halfway point for its planned 4 GW of peak-power capabilities in ERCOT by 2025.

WattBridge Closes Finance on Fifth New Peak-Power Facility in Just 20 Months

The Brotman project will deliver reliable power during peak-demand times, including severe heat waves and winter weather.  

"The Governor, Texas legislature, Public Utility Commission, and ERCOT called for fast, creative solutions that add to our State's grid reliability and dispatchable generation capacity," says Chief of the Texas Division of Emergency Management and Texas Energy Reliability Council (TERC) Chairman, Nim Kidd. "I am pleased to see a Texas company like WattBridge moving forward with quick and effective solutions utilizing American jobs to do just that."

The Brotman facility will be powered by six LM6000 gas-turbine packages and, when completed, increases WattBridge peak-power capabilities in the Greater-Houston area to 1,824 MW, with another 1,728 MW in advanced development. As one of the most prolific owners/operators of LM6000 aeroderivative engines in the world, WattBridge supports the Houston grid during critical times, such as throughout 2021 Winter Storm Uri when a significant percent of the Texas grid failed.

Each plant—delivered as a true turnkey peak-power solution from PROENERGY—is installed with the vision to support renewable energy and meet grid demand during periods of reduced operating reserves.   

"Facilities like Brotman protect against power intermittency as our country transitions to a greater percentage of renewable energy," says Jeff Canon, PROENERGY CEO. "By filling gaps in energy supply with fast-start, reduced-emission power generation, these plants quickly and effectively enhance ERCOT grid reliability."

The ability to steadily build to 1,824 MW in just 20 months is made possible by a unique business and collaborative model, says WattBridge President, Mike Alvarado.

"We're proud to have built a substantial portfolio in a very short amount of time, but it's simply not possible without our partners," he says. "We leverage PROENERGY as major equipment supplier and EPC (engineering, procurement, and construction) execution, and we form close relationships with government, regulatory bodies, and a strategic mix of business partners. Adding that together means we'll accelerate plants like Brotman from close of financing to support for peak-power demand in just 16 months."

Key parties in the Brotman project are:

Facility Owner—WattBridge Energy
Plant Equipment, Engineering, Construction, and Operation—PROENERGY
Financing—MUFG Union Bank, N.A., CoBank ACB, and Nomura Securities International Inc.
Gas Transmission—Florida Gas Transmission Company, LLC  
Gas Supplier—Spire Marketing Inc.
Power Offtake—Major market participant guaranteed by investment-grade rated affiliate 
Transmission Service Provider—CenterPoint Energy Houston Electric, LLC 

About WattBridge 
WattBridge Energy LLC is a Houston, Texas-based peak-power solutions developer and operator. Serving as a bridge between emissions-intensive power generation and a fully renewable future, WattBridge operates under the vision of enabling wind and solar-energy growth. With 1,824 MW operating or under construction in the Greater Houston area and a further 1,728 MW in advanced development—all driven by reliable LM6000 engines—WattBridge is among the largest operators of this technology in the world. For more on WattBridge, visit www.wattbridge.info.

About PROENERGY 
Based in Sedalia, Missouri, PROENERGY is a global peak-power solutions provider with operational experience on every continent. The company offers vertically integrated aeroderivative power services, including engineering, construction, operations, repair, maintenance, research, and true, turnkey peak-power facilities that include the complete balance of plant. For more on PROENERGY, visit www.proenergyservices.com.

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SOURCE PROENERGY

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