Southern Power to partner with esVolta on energy storage projects
Southern Power, a subsidiary of Southern Company, recently announced that it is partnering with esVolta on up to four utility-scale energy storage projects in California totaling more than 86 megawatts (MW).
The company’s investment in one project has closed, and three others are subject to completion.
“Battery storage is an emerging technology with the potential to revolutionize how energy is supplied,” Southern Power President Bill Grantham said. “These projects and our partnership with esVolta are a great strategic fit for our business, and these transactions will further position Southern Power to meet our customers’ needs as the energy industry continues to evolve.”
The partnership with esVolta supports Southern Power’s growth and business strategy of developing or acquiring interests in projects covered by long-term contracts. Southern Company has set a goal of transitioning to low- to no-carbon operations by 2050.
“The consummation of our new partnership with Southern Power represents a tremendous milestone for esVolta,” esVolta Founder and President Randolph Mann said. “Southern Power is an outstanding company and a leader in the U.S. electricity sector. Our collaboration will enhance esVolta’s ability to capitalize on the strong growth of the energy storage business, and we are excited to work alongside the outstanding team at Southern Power to bring additional high-quality utility-scale storage projects to fruition for our utility customers.”
esVolta was advised on the transaction by Javelin Capital.
