The Astoria Generating Station in New York, owned by Arclight portfolio company Eastern Generation. Image: Ben Schumin.
Arclight Capital Partners has committed US$150 million to its energy storage platform Elevate Renewable Energy for deploying battery storage alongside its legacy thermal plant portfolio.
Arclight formed Elevate in 2022 to develop and install utility-scale battery energy storage systems co-located with existing power infrastructure.
Elevate’s initial focus is on projects co-located with Arclight’s portfolio which totals around 25GW, mostly legacy thermal plants, particularly in US electricity markets where renewable deployments have created a need for grid flexibility services.
Elevate’s head of development Eric Cherniss spent three years at US utility Vistra, during which time the company developed the 1,200MWh Moss Landing project, the…