Energy Point Energy, an energy storage developer, has announced the sale of the Yadkins Energy Storage project to Aypa Power, a Blackstone portfolio company and developer, owner and operator of energy storage and hybrid generation assets.
The 100-megawatt project will be located in Chesapeake, Va. East Point will continue to provide development services to the project.
Energy storage projects like Yadkins are an essential component of Virginia’s 100 percent clean energy future, as outlined in the Virginia Clean Economy Act. The project will increase grid resilience and is well-sited to support the Hampton Roads load growth and planned offshore wind interconnecting nearby.
“East Point was an early mover in Virginia; development of the Yadkins project began in 2018,” said Andrew Foukal, East Point Energy CEO. “The project reflects East Point’s fundamentals-based approach to project siting, which is a result of over a decade of developing renewable energy