Jupiter Power, Energy Vault Partner for 2.4 GWh of Domestic-Content-Qualified BESS
- Energy Vault will concentrate on making the most of localization and also release of energy storage equipment that will get Inflation Reduction Act's Domestic Content Bonus Credit.
- Jupiter Power will certainly collaborate in siting the new domestic manufacturing facilities by making use of assets safeguarded for future Jupiter Power projects throughout the United States.
Texas-based utility-scale battery energy storage space systems (BESS) designer and driver, Jupiter Power has announced the execution of an agreement with Switzerland-headquartered grid-scale energy storage space options carrier Energy Vault Holdings. Under the agreement, Jupiter Power and also Energy Vault will certainly team up to safeguard 2.4 GWh of supply chain equipment as well as solutions that will certainly be incorporated and also supplied with Energy Vault's hardware and software management platform in battery energy storage projects of Jupiter Power.
Jupiter Power and Energy Vault said that they are dedicated to sustaining US based producing for use in BESS projects of Jupiter Power across United States electric markets. The projects are expected to get to commercial operations in 2024 and also 2025.
Jupiter Power said that under the arrangement, Energy Vault will concentrate on optimizing localization and also release of energy storage equipment that will qualify for the just recently passed Inflation Reduction Act's Domestic Content Bonus Credit. Jupiter Power will team up in siting the new domestic production facilities by utilizing assets secured for future Jupiter Power projects across the nation, consisting of the siting of such facilities in "Energy Communities" locations prioritized for financial investment by the Inflation Reduction Act, such as brownfield coal sites as well as economically deprived areas.
Andy Bowman, CEO, Jupiter Power, specified, "We are really pleased to be increasing our relationship with Energy Vault to grow our supply of the equipment the grid seriously requires today while additionally sustaining lasting battery equipment production here at home."
Marco Terruzzin, Chief Commercial Officer, Energy Vault, said, "Energy Vault is laser focused on its customers' demands with a dedication to continuous development, permitting this arrangement to act as a portal for realizing the intent of the Inflation Reduction Act in quickly bringing energy storage space localization to the united state"
Jupiter Power and Energy Vault had actually authorized contracts formerly likewise for BESS projects in Texas and also California completing 220 MWh, under which Energy Vault will provide a 100 MW (200 MWh) battery energy storage space system at a Jupiter Power Facility near Fort Stockton, Texas. Both will certainly also construct and commission a 10 MW (20 MWh) battery energy storage space system for Jupiter Power in California.