Point of sail

Broad Reach Power Acquired by ENGIE from EnCap Energy Transition and Apollo Funds

Retrieved on: 
Thursday, August 24, 2023

EnCap Energy Transition today announced that French multinational utility company ENGIE has agreed to acquire the battery storage business of Houston-based Broad Reach Power from EnCap Energy Transition Fund I, its co-investment partners Yorktown Partners , Mercuria Energy and Apollo Infrastructure Funds (the “Apollo Funds”) for a total equity value in excess of $1 billion.

Key Points: 
  • EnCap Energy Transition today announced that French multinational utility company ENGIE has agreed to acquire the battery storage business of Houston-based Broad Reach Power from EnCap Energy Transition Fund I, its co-investment partners Yorktown Partners , Mercuria Energy and Apollo Infrastructure Funds (the “Apollo Funds”) for a total equity value in excess of $1 billion.
  • Since Broad Reach was founded in 2019 with backing from EnCap Energy Transition, it has become a leading U.S. developer and operator of renewable energy and energy storage power projects in Texas, California and other markets.
  • Apollo Funds acquired a 50% stake in the company and joined the Board in December 2021.
  • Together with EnCap and the Broad Reach Power management team, we’ve built what we believe is the leading and most innovative battery storage IPP in North America.

Texas Coalition for Affordable Power Offers Possible Stability of Electricity Rates for Members

Retrieved on: 
Monday, March 6, 2023

The largest non-profit aggregator of electric power for political subdivisions in Texas has found a way to offer rate stability to its members, resulting in a lower total price for electricity.

Key Points: 
  • The largest non-profit aggregator of electric power for political subdivisions in Texas has found a way to offer rate stability to its members, resulting in a lower total price for electricity.
  • The Texas Coalition for Affordable Power (TCAP) will be obtaining their ancillary services from Broad Reach Power (BRP), the leading utility-scale battery storage platform in the United States.
  • This proves once again that TCAP’s non-profit model enables innovation and creativity, the focus of which is solely on the benefit of its members.
  • For more information about the TCAP, visit www.tcaptx.com
    Broad Reach Power is the leading utility-scale battery storage platform in the United States.

Leading Global Organizations Launch New Consortium to Assess Climate Benefits of Energy Storage

Retrieved on: 
Wednesday, September 14, 2022

A group of leading organizations, including Meta , REsurety , Broad Reach Power and others, has announced the formation of the Energy Storage Solutions Consortium, a consortium to assess and maximize the greenhouse gas (GHG) reduction potential of electricity storage technologies.

Key Points: 
  • A group of leading organizations, including Meta , REsurety , Broad Reach Power and others, has announced the formation of the Energy Storage Solutions Consortium, a consortium to assess and maximize the greenhouse gas (GHG) reduction potential of electricity storage technologies.
  • Energy storage is a technology that has huge potential, and were delighted to partner with industry leaders in this forward-thinking and collaborative effort to develop a global standard for energy storage benefits.
  • In order to calculate the GHG benefits of large-scale energy storage facilities, the consortium will leverage locational marginal emissions .
  • Based in Houston, Broad Reach is backed by leading energy transition investors, EnCap Investments L.P., Apollo Global Management, Yorktown Partners and Mercuria Energy.

Broad Reach Power Makes Strategic New Hire with Stacey Peterson as Chief Financial Officer

Retrieved on: 
Monday, September 12, 2022

Broad Reach Power , the leading utility-scale battery storage platform, which owns a 21 gigawatt (GW) portfolio of utility-scale battery storage and renewable power projects across the U.S., announced today that Stacey Peterson has joined as Chief Financial Officer.

Key Points: 
  • Broad Reach Power , the leading utility-scale battery storage platform, which owns a 21 gigawatt (GW) portfolio of utility-scale battery storage and renewable power projects across the U.S., announced today that Stacey Peterson has joined as Chief Financial Officer.
  • As the new CFO, Peterson will be responsible for all areas of the company's finance function, including capital management and strategy.
  • We are confident that Staceys financial leadership will add great value to Broad Reach Power, said Corinne Still, Broad Reach Power Director and Partner at Apollo Global Management.
  • Prior to her role at Broad Reach Power, Peterson held financial management positions at BP, Calpine, Talen Energy, and most recently was Chief Accounting Officer at CenterPoint Energy.

Broad Reach Power Closes $161 Million Project Financing on 18 Battery Energy Storage Projects

Retrieved on: 
Thursday, July 28, 2022

Broad Reach Power (Broad Reach), the leading utility-scale battery storage platform, which owns a 21 gigawatt (GW) portfolio of utility-scale battery storage and renewable power projects across the U.S., today announced it successfully closed a $161 million project financing for 17 operating battery energy storage systems in Texas and one in California.

Key Points: 
  • Broad Reach Power (Broad Reach), the leading utility-scale battery storage platform, which owns a 21 gigawatt (GW) portfolio of utility-scale battery storage and renewable power projects across the U.S., today announced it successfully closed a $161 million project financing for 17 operating battery energy storage systems in Texas and one in California.
  • Broad Reach develops and operates its battery storage projects to perform under an optimized revenue stack, which includes a combination of contracts, financial hedges and merchant capacity selling energy and ancillary services in the market.
  • This is a marquee debt financing transaction in the battery storage sector, and we at Broad Reach look forward to advancing innovative ways to finance our large pipeline of projects.
  • We are happy to have collaborated with Broad Reach on this landmark battery storage financing and look forward to supporting their continued growth.

Broad Reach Power and Lancium Partner to Support Grid Stability Through Flexible Data Centers

Retrieved on: 
Thursday, July 7, 2022

Broad Reach Power Energy Services LLC, a wholly owned subsidiary of Houston-based independent power producer Broad Reach Power LLC (Broad Reach), announced today that it has entered into a services partnership with Lancium, an energy technology and infrastructure company that advances the decarbonization and stability of the electric power grid.

Key Points: 
  • Broad Reach Power Energy Services LLC, a wholly owned subsidiary of Houston-based independent power producer Broad Reach Power LLC (Broad Reach), announced today that it has entered into a services partnership with Lancium, an energy technology and infrastructure company that advances the decarbonization and stability of the electric power grid.
  • We are proud to partner with Lancium on their first Clean Campus, said Paul Choi, EVP Broad Reach Power.
  • As one of the largest developers of stand-alone energy storage, Broad Reach understands the importance of responsive generation and load resources to help the economy transition to a cleaner power grid.
  • Enabled by Lanciums proprietary Lancium Smart Response technology, the data centers operate in a flexible manner, responding to grid conditions in real time.

Broad Reach Power and CATL Announce Large Purchase of Battery Storage Systems for Texas

Retrieved on: 
Tuesday, April 19, 2022

Broad Reach Power LLC (Broad Reach), an independent power producer based in Houston, Texas, which owns a 21-gigawatt (GW) portfolio of utility-scale wind, solar and energy storage power projects, today announced it has advanced its ERCOT portfolio through the procurement of over 900 megawatt-hour (MWh) of battery systems from Contemporary Amperex Technology Co., Limited (CATL), the global leader in lithium-ion battery development and manufacturing.

Key Points: 
  • Broad Reach Power LLC (Broad Reach), an independent power producer based in Houston, Texas, which owns a 21-gigawatt (GW) portfolio of utility-scale wind, solar and energy storage power projects, today announced it has advanced its ERCOT portfolio through the procurement of over 900 megawatt-hour (MWh) of battery systems from Contemporary Amperex Technology Co., Limited (CATL), the global leader in lithium-ion battery development and manufacturing.
  • We look forward to working with CATL on these projects, says Doug Moorehead, Chief Operating Officer at Broad Reach.
  • Cooperation between CATL and Broad Reach in energy storage started a long time ago.
  • Broad Reach Power (Broad Reach) is the leading utility-scale storage platform in the United States.

Broad Reach Power Brings Two 100-Megawatt Battery Storage Projects Online in Central Texas

Retrieved on: 
Tuesday, November 2, 2021

Broad Reach Power LLC (Broad Reach), an independent power producer based in Houston which owns a 21-gigawatt (GW) portfolio of utility-scale wind, solar and energy storage power projects across the United States, today announced its first two transmission-level projects, North Fork and Bat Cave, are online and placed in service with ERCOT.

Key Points: 
  • Broad Reach Power LLC (Broad Reach), an independent power producer based in Houston which owns a 21-gigawatt (GW) portfolio of utility-scale wind, solar and energy storage power projects across the United States, today announced its first two transmission-level projects, North Fork and Bat Cave, are online and placed in service with ERCOT.
  • Broad Reach now has 300 MW of dispatchable storage resources in ERCOT improving the reliability of the ERCOT system.
  • Bringing these two projects into service advances Broad Reachs commitment to developing key energy infrastructure in Texas, said Broad Reach Power Managing Partner & Chief Executive Officer Steve Vavrik.
  • Broad Reach Power (Broad Reach) is the leading utility-scale storage platform in the United States.

CAMS Secures O&M Contracts for Texas Battery Storage Sites

Retrieved on: 
Monday, October 25, 2021

Consolidated Asset Management Services (CAMS), an industry leading asset management and operations and maintenance (O&M) services provider, announced today that it has been awarded two contracts by Broad Reach Power (Broad Reach) to provide O&M services at two battery energy storage sites.

Key Points: 
  • Consolidated Asset Management Services (CAMS), an industry leading asset management and operations and maintenance (O&M) services provider, announced today that it has been awarded two contracts by Broad Reach Power (Broad Reach) to provide O&M services at two battery energy storage sites.
  • Located in Texas, the projects CAMS will support include 100 megawatts (MW) at Bat Cave Energy Storage in Mason County and an additional 100 MW at North Fork Energy Storage in Williamson County.
  • The addition of the projects solidifies CAMS as one of the largest third-party battery O&M providers in the country, now delivering O&M at 12 sites totaling 300 MW.
  • This partnership is a fantastic recognition of the strength of CAMS service offering and further grows our renewables footprint, said Rick Knauth, Co-President of CAMS Renewable Services.

Broad Reach Power Invests in 118-megawatt-hour Lithium-Ion Energy Storage Equipment From SYL Battery

Retrieved on: 
Monday, September 20, 2021

Broad Reach Power LLC (Broad Reach), an independent power producer based in Houston which owns a 13-gigawatt portfolio of utility-scale solar and energy storage power projects in Montana, California, Wyoming, Utah and Texas, announced that it has invested in 118-megawatt-hour (MWh) energy storage equipment from SYL Battery (SYL) to support the Cascade Energy Storage (Cascade) project in Stockton, California.

Key Points: 
  • Broad Reach Power LLC (Broad Reach), an independent power producer based in Houston which owns a 13-gigawatt portfolio of utility-scale solar and energy storage power projects in Montana, California, Wyoming, Utah and Texas, announced that it has invested in 118-megawatt-hour (MWh) energy storage equipment from SYL Battery (SYL) to support the Cascade Energy Storage (Cascade) project in Stockton, California.
  • Broad Reach Power and SYL Battery have established a framework, master procurement agreement to enable expedited procurement for Broad Reach Powers extensive, multi-year GWh project pipeline.
  • Broad Reach Power has been an excellent customer and partner to SYL Battery and has enabled our rapid growth in the energy storage market, said SYL Battery Director of Applications Engineering Lei Zhang.
  • Broad Reach Power (Broad Reach) is the leading utility-scale storage independent power producer (IPP) in the United States.