Equinor subsidiary East Point Energy has launched a project acquisition program that seeks to acquire standalone energy storage, solar, and solar+storage projects in the U.S.
The program will initially favor standalone storage projects that can achieve commercial operation in 2024 and 2025 in ERCOT, PJM, NYISO, and ISONE, but will review and consider projects in all power markets.
Projects at any stage of the development process are eligible for the program, including pre-construction projects and operating assets.
East Point Energy CEO Andrew Foukal said the project acquisition program aims to position the company as a “trusted, reliable investment partner to project developers.”
PODCAST: Factor This! analyzed the state of clean energy capital markets from the perspectives of both a utility-scale solar and storage developer and a capital provider. Subscribe today wherever you get your podcasts.
East Point Energy is a development firm focused on the origination, construction, and operation of energy storage projects.
Equinor announced in July 2022 that it was acquiring the company, which was privately owned and headquartered in Charlottesville, Virginia. The transaction between Equinor and East Point is expected to be completed in Q3 2022.
East Point Energy plans to expand the company’s scope to include developing, constructing, and owning and operating solar projects.
