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Retail Supplier Affiliate Enters 10-Year Offtake Agreement For Texas Energy Storage
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Energy Vault Holdings Inc. announced plans for the deployment of a 57 MW/114 MWh Battery Energy Storage System (BESS) in Scurry County, Texas, as well as the signing of a 10-year offtake agreement with Gridmatic
Construction of the Cross Trails BESS, which will provide supply and services to the ERCOT market, is expected to begin in Q1 2025, with commercial operation expected by summer 2025.
Energy Vault’s 10-year offtake agreement with Gridmatic is expected to commence in Q2 2025.
Cross Trails BESS will be built, owned, and operated by Energy Vault
As part of the agreement, Gridmatic will also provide QSE services.
Energy Vault said, "The offtake agreement is the first physically settled revenue floor contract to be signed for a BESS in ERCOT."
The agreement is backed by Gridmatic’s previously announced Energy Storage Fund.
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November 8, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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