ERCOT Standalone Energy Storage: Q CELLS Acquires Its First Battery Energy Storage Project - One of The Largest Under Development in Texas
Q CELLS USA Corp. announced the acquisition of a 190 MW standalone storage facility, Sputnik Energy Storage development project, from Belltown Power. The project, located in Hunt County, TX, will be one of the largest operating battery storage projects in Texas.
Q CELLS USA Corp. (Q CELLS) announced today that it has completed the acquisition of the Sputnik Energy Storage development project from Belltown Power Texas, LLC (Belltown). The project is located in Hunt County, TX, and will connect to the Rayburn County Electric Cooperative, Inc. grid.
The Sputnik Energy Storage Project is a 190 MW / 380 MWh standalone storage facility, which is expected to operate in the ERCOT market.
Vitaly Lee, Head of Development at Q CELLS USA Corp. celebrated the company's accomplishment, "Not only is this quite an achievement for Q CELLS, being its first standalone battery storage project, but also because this storage project will be one of the largest operating battery storage projects in Texas, when commissioned in 2022."
"This acquisition builds upon the tremendous momentum at Q CELLS," said Mr. Jaekyu Lee, President of Q CELLS USA Corp. "We are proud of completing another transaction with Belltown Power, and are happy to be sharing in the accomplishments with such a valuable partner to Q CELLS."
"We are excited to have completed this deal with Q CELLS, which marks our first transaction in the energy storage space" said Lloyd Pope, President of Belltown Power Texas. "Our teams worked seamlessly throughout the execution process, and we look forward to continued partnership between our companies."
Most recently, as part of its turnkey solutions offering, Q CELLS completed the development, supplied modules, constructed, financed, commissioned, owned, and operated 332 MW of solar assets and it continues to work on over nine GW of solar & energy storage development projects in the US.
When talking about the future of Q CELLS, Mr. Lee also stated, "We have positioned ourselves for exponential growth through a nation-wide greenfield campaign and acquisition of solar and energy storage projects in the US and look forward to partnering with developers who need Q CELLS one-stop turnkey solutions."
About Q CELLS
Q CELLS USA Corp. ("Q CELLS") develops, invests, and delivers photovoltaic (PV) and energy storage system (ESS) projects through Development and Engineering, Procurement, and Construction (EPC) solutions in North America. The company brings a decade of global leadership in solar PV to deliver utility-scale power generation plants customized for local and regional energy markets. It is an affiliate of Q CELLS Co., Ltd., one of the world's largest and most recognized photovoltaic manufacturers for its high performance, high quality solar cells and modules. It is headquartered in Seoul, South Korea (Global Executive HQ) and Thalheim, Germany (Technology & Innovation HQ). Q CELLS is a flagship company of Hanwha Group, a FORTUNE Global 500 firm and a Top 7 business enterprise in South Korea. Q CELLS offers the full spectrum of PV solutions from the core technology of cells and modules to large scale project development and investment. For more information, visit: http://www.qcellsusa.com and on LinkedIn.
Belltown is a developer of solar photovoltaic and storage projects primarily in ERCOT and PJM that started operations in the USA in late 2016. Belltown focuses on greenfield development and typically advances its projects to ready-to-build while often staying involved through NTP and COD. The company has a strong track record of outstanding development, having completed 14 transactions involving over 2.5GW of generation and storage. In addition, Belltown continues to work on its active pipeline of 30+ projects and over 5GW.
This press release contains forward-looking statements. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and RBC and Q CELLS' operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Except as required by law, RBC and Q CELLS does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.