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Intersect Power is set to expand its footprint in Texas with $837 million in financing for three major battery installations. Expected to be operational by 2024, these projects will add nearly 1 gigawatt-hour of energy storage capacity, bolstering Texas' booming storage market. CEO Sheldon Kimber envisions a future where industrial facilities connect directly to massive solar and battery projects. While this vision is still on the horizon, Intersect Power is making significant strides with its Lumina I, Lumina II, and Radian battery projects. These installations will store solar power from Intersect’s Lumina and Radian projects, providing additional flexibility to the state. The financing includes construction and term debt from HPS Investment Partners, LLC and Deutsche Bank, along with tax equity from Morgan Stanley. Kimber emphasized the importance of battery storage, noting that it supports grid resilience and capitalizes on renewable energy's peak-to-trough energy arbitrage. #renewableenergy #energystorage #cleanenergy #intersectpower #texas #solarpower #sustainability #gridresilience #batterystorage #batterie #cleanenergytransition

Intersect Power to build $837M worth of grid batteries in Texas

Intersect Power to build $837M worth of grid batteries in Texas

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