Jupiter Power LLC (Jupiter) will build six stand-alone, utility-scale battery storage projects this year, totaling 652 megawatt hours of energy storage capacity. The projects consist of three 200-megawatt-hour projects and three smaller projects, each strategically sited and configured at optimized locations. The projects are all expected to be online by the third quarter of 2021.
Formed in 2017, Jupiter is a developer, owner and operator of energy storage projects in select U.S. markets. “Jupiter was founded on the idea that the rapid growth of renewables means not just cleaner energy, more jobs and a stronger tax base for local communities, but also that we must find ways to make intermittent wind and solar power fit better into the power grid, and storage is the way to do this,” said Jupiter Chief Executive Officer Andy Bowman, whose company is primarily backed by leading energy investor EnCap Investments L.P.
“The projects we are announcing will not only strengthen the grid and provide backup power when needed, they will also help ensure that the cheapest power available – increasingly wind and solar – can get to market regardless of when and where it is generated,” he added.
While most storage companies today build projects only after putting contracts in place for capacity or ancillary services, Jupiter focuses on innovative new structures for contracted projects and putting revenue optimization strategies to work on uncontracted projects sited to help address price volatility and transmission bottlenecks.