US BESS Updates: Spearmint, Polaris, and Clearway Projects
This news roundup highlights significant developments in US battery energy storage systems (BESS). In Texas, Spearmint Energy secured $250 million in financing for its Tierra Seca and Seven Flags projects, supplemented by an equity investment from Japan’s Kyuden International, marking the utility's first US BESS venture. In Puerto Rico, Polaris Renewable Energy received approval from the Financial Oversight and Management Board for a 71.4MW BESS under the Standard Offer agreement. This project, part of the Accelerated Storage Addition Programme, aims to enhance grid reliability with a 20-year term involving fixed and performance-based payments from PREPA. Meanwhile, in Utah, Clearway Energy Group officially commissioned the 320MW/1,280MWh Honeycomb Energy Centre. Representing a $600 million investment, the facility was inaugurated with Senator John Curtis attending the ribbon-cutting ceremony. These updates illustrate continued expansion and financial structuring activities in the American energy storage sector, involving key independent power producers and international investors across multiple states and territories.
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