Gridstor, a energy storage developer funded by Goldman Sachs, recently acquired a battery storage project combination developed in California from the UPStream Energy company, with a total scale of 500MW/2GWh.
Gridstor, a battery storage developer and operator headquarters headquartered in Portland, announced the acquisition transaction on October 26 and claimed that these projects will be launched between 2024 and 2026.
These battery energy storage systems are located in Greater Los Angeles urban areas, adjacent to existing existing transmission lines and power stations. One of the battery energy storage projects has been opened and operated. These energy storage projects will provide services to the state's public institutional companies, and to ensure the reliability of the power grid without renewable energy power generation. In May this year, California achieved a milestone of 100%of renewable energy power within a day.
The duration of the energy storage system in the project combination is 4 hours, which allows them to provide electricity to public institutional companies through the sufficient framework of resources. The framework is the California Independent System Operator (CAISO) using the battery energy storage system to meet the power needs And provide spare capacity. California Independence System operator (CAISO) does not conduct concentrated capacity auctions like British power grid operators.
