ArcLight Capital Partners has made a $150 million commitment to Elevate Renewable Energy, a company it formed in 2022 to develop and install utility-scale, battery-energy storage resources colocated with existing power infrastructure, with a total capacity of 25 gigawatts. Financial terms of the private investment were not disclosed.
Elevate Renewables also has a brownfield development pipeline of more than 5 gigawatts of potential capacity at more than 20 sites. ArcLight said Elevate also will focus more broadly on projects in U.S. electricity markets where the rapid growth of intermittent renewable energy has created a need for flexible, dispatchable zero-carbon energy.
“We are excited to announce our commitment to Elevate Renewables to capitalize on what we feel are captive and advantaged brownfield development opportunities within our existing power infrastructure portfolio,” said Dan Revers, managing partner at ArcLight. “More broadly, we believe battery sto