Apex Clean Energy has formed a JV with Korean energy company SK Gas and green developer SK D&D to own energy storage facilities in the United States.
The JV SA Grid Solutions owns Great Kiskadee, a 100MW utility-scale battery project under construction in Texas, and anticipates purchasing and advancing additional Apex storage schemes in the future.
The joint venture is funded 60% by SK and 40% by Apex, which will manage the construction and subsequent operations and optimization of the facility and any future sites.
Apex Clean Energy chief executive Ken Young said: “Great Kiskadee represents the first project in this shared vision, with the potential for hundreds more megawatts of energy storage to come.
“Our collaboration with SK Gas and SK D&D, a first-time partner with shared values, will enable Apex to swiftly accelerate the deployment of our development-stage storage portfolio, comprising more than 13GW across the United States.”
SK Gas chief executive Byung Suk Yoon added: “I am pleased to collaborate with Apex, a strong local partner in the United States, as well as SK D&D.
“The energy storage system (ESS) business is indispensable to expanding renewable power generation and offers long-term sustainability and significant social value.
“By contributing to power supply stabilization and supporting the growth of renewable energy through ESS, we aim to realize our vision of becoming a net zero solution provider.”
Great Kiskadee is expected to begin commercial operations in 2024 and will generate approximately 50 jobs during construction and more than US$12.6m in tax revenue over its lifetime.