Strata Clean Energy as managed to secure a total of $559 million funding that would be utilized for the development of its 255MW/1,020 Mwh Scatter Wash Battery Storage complex. Strata kicked off construction works on the Phoenix, AZ, energy storage project in the month of January this year. This mega battery complex project is expected to kick off its operations in the year 2025.
Funders of the Scatter Wash Battery Storage Complex
The funders or financial collaborators of the project are J.P. Morgan, Nomura, US. Bancorp Impact Finance, CoBank, The Korea Development Bank, The Norddeutsche Landesbank, Siemens Company, and lastly Regions.
“The successful funding of the mega Scatter Wash battery storage complex indeed marks a major step ahead in our mission of ensuring the transition to clean energy. This opportunity to be able to collaborate with our funding partners to enable the implementation of this mega project that is very critical will bring forth a lasting and sustainable impact on an area that faces difficulties of grid issues and extreme heat.,” stated Markus Wilhem who is currently the Chief Executive Officer of Strata Clean Energy.
Capacity of the Project
When Scatter Wash battery energy complex becomes fully operational, the project will have the capability of powering a total of 50,000 homes in Arizona in time of peak summer conditions.
“J.P. Morgan is currently making an effort to provide capital that would be utilized to speed up the growth of sustainable infrastructure development in the whole country. We are very happy to work with Strata in order to decarbonize our communities and come up with a more resilient energy future,” John Beebe stated (Executive Director, J.P. Morgan Green Economy Banking).
The technology that will be used throughout the Scatter Wash energy storage complex is the Tesla Megapack 2XL.
The pipeline development of Strata has a 31,800Mwh energy storage and a totalof 8,400MW of solar power. This information was revealed by a press release regarding the company. This is indeed a lot of solar power- specifically, it is a massive storage of energy.
The development of the Scatter Wash Battery Storage complex is being supported by the Investment Tax Credit (ITC) for the standalone energy storage that was by the Inflation Reduction Act (IRA) of the year 2022. In the previous year, Strata was among the very first to utilize the advantage that was brought forth by the advantage of tax incentive for energy storage for a couple of projects in Vermont.
Currently, Strata has over 270 projects of solar and storage that are completed. Additionally, it has also take part in the development and construction works of 3,000MW of solar energy and also 3,200MWh utlity scale of storage of energy.
In the month of May in the year 2023, Strata managed to forge a 20-year trolling agreement contract with the Arizona Public Service. This move showed the commitment of the company in implementing this mega battery storage project.
Also read: EDF Awarded 1.5GW Al Ajban Solar Contract
Larsen & Toubro Awarded 1.8GW Dubai Solar Park Contract: World’s Largest Solar Park
Plans for Second StarPlus Energy Gigafactory announced, Indiana
