Ares Management Corp. and Dimension Renewable Energy have partnered on a portfolio of utility-scale battery energy storage projects located in New York state that are currently under development by Dimension. Upon completion of certain development milestones, funds managed by Ares Infrastructure and Power will acquire and construct the projects.
The portfolio includes a diverse mix of projects across New York State, including projects on Long Island. The total potential size of the portfolio is more than 300 megawatts (1,200 megawatt hours), which is the equivalent of providing 300,000 homes with on-demand power in the region.
“This transaction will provide our investors with access to an attractive growth opportunity in the utility-scale battery storage sector,” said Keith Derman, partner and co-head of Ares Infrastructure and Power. “We are witnessing a historic transformation of the nation’s energy industry. Projects like these demonstrate that battery stora
