Clearway Energy Group and AIP strike US$200 million equity deal for Texas BESS

April Bonner | Source: Energy Storage News | Posted 04/04/2025

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AIP Management has agreed to acquire an equity stake from Clearway Energy Group, in Pine Forest, a 300MWac solar PV and 200MW/400MWh battery energy storage system (BESS) project in Texas, US.

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AIP Management has entered into a US$200 million equity deal with Clearway Energy Group to acquire a 49.99% stake in the Pine Forest project, which includes a 300MWac solar PV and a 200MW/400MWh battery energy storage system (BESS) in Texas. The agreement was announced on April 1, and the project is currently under construction, with an expected commercial operation date in late Q4 2025. Clearway will maintain a 50.01% equity stake and will oversee operations and maintenance.

The Pine Forest project is strategically located in the Electric Reliability Council of Texas (ERCOT) North market, near major transmission networks. AIP, a renewable energy investment firm, plans to utilize the BESS to engage in ERCOT’s wholesale energy and ancillary services market, while the solar PV capacity will be secured through long-term virtual power purchase agreements with corporate offtakers. AIP has a history of collaborating with Clearway on other BESS projects and has invested in approximately 7GW of renewable energy assets globally.

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Clearway Energy Group and AIP strike US$200 million equity deal for Texas BESS

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