FPUSA Converts 480 MWh of Long-Duration Energy Storage Projects from the Bimergen Energy Portfolio
Bimergen Energy Corporation (BESS) has signed an agreement to sell a 480 MWh portfolio of battery energy storage projects in ERCOT to Frontier Power USA (FPUSA). The transaction marks the first deployment under FPUSA’s 2 GWh capacity reservation agreement with Eos Energy Enterprises (EOSE), utilizing Eos’ Z3 long-duration battery systems. Bimergen will receive a development fee and retain a 7.5% economic interest in the projects, while FPUSA (owned by Cerberus Capital Management) will fund 100% of the construction equity and hold a 92.5% interest.
Key figures
- Portfolio capacity mwh
- 480
- Fpusa acquired interest pct
- 92.5
- Eos reservation capacity gwh
- 2
- Bimergen retained interest pct
- 7.5
AI analysis
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