Broad Reach Power, an independent power producer (IPP) based in Houston, Texas, has begun construction on two 100-MW battery projects.
“The grid in Texas is continuing to transform rapidly with the addition of more wind and solar generation. While these resources are desirable because they reduce costs and emissions, they add more variation and risk to an already challenging real-time balancing goal,” said Broad Reach Power Managing Partner and Chief Executive Officer Steve Vavrik, whose company owns utility-scale solar and energy storage power projects. “This problem will compound as both renewable penetration and power demand increase. Deploying more energy storage systems like our units operating in Odessa and the Houston area will strengthen the grid’s reliability.”
Broad Reach plans to invest more than $100 million in the two recently acquired projects located in Mason and Williamson counties in Texas. Once online in 2021, the plants will operate alongside Broad Reach’s expanding portfolio of utility-scale energy storage plants in Texas near Houston and Odessa.
Broad Reach has additional plans to expand its storage portfolio in Texas, including several more large endeavors. The company is also replicating its successful dual greenfield and acquisition approach in California, Montana and other western markets where the company has over 700 MW of projects with signed interconnection agreements.
“Broad Reach’s tremendous and rapid growth since we backed them in September of 2019 is a testament to what a seasoned team can do with the support of highly experienced renewable energy investors like EnCap and Yorktown, and the compelling opportunity set we see in this rapidly evolving marketplace,” said EnCap Energy Transition Managing Partner Shawn Cumberland.
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