Intersect Power, a clean energy company bringing innovative and scalable low-carbon solutions to its customers in global energy markets, has closed two separate transactions representing an aggregate of $837 million of financing commitments for the construction and operation of three standalone battery energy storage systems (BESS) in Texas. The transactions cover portfolio-level construction debt, tax equity and term debt financing with industry-leading partners.
All three BESS — Lumina I, Lumina II, and Radian — are expected to be operational in 2024. Each project comprises 86 Megapacks, Tesla’s battery energy storage system, and Lumina II and Radian will be operated by Autobidder, Tesla’s real-time trading platform. The three sites will move from concept to commissioned in less than 12 months and each will provide a capacity of 320 megawatt hours of battery storage with a two-hour duration. These batteries provide additional flexibility to Intersect’s Texas opera
