Spearmint Energy acquires 900MW BESS portfolio in US

24 March 2023
Spearmint Energy acquires 900MW BESS portfolio in US

Spearmint Energy has announced the acquisition of a 900MW battery energy storage solutions (BESS) asset portfolio, known as Nomadic, in the US state of Texas.

It consists of three projects located in Cooke, Galveston and Brazoria counties, with a target capacity of 300MW each.

The company states that the portfolio was acquired from one of the key developers and operators of clean energy projects in the US.

Financial details of the deal have not been disclosed.

Spearmint noted that its team will focus on completing Nomadic’s remaining development work. The first project within the Nomadic portfolio is expected to reach notice to proceed in early 2024 and is estimated to become operational in 12 – 18 months.

This is the second acquisition by the company since its inception in May last year.

Spearmint Energy founder, president and CEO Andrew Waranch said: “We are proud to add Nomadic to the Spearmint portfolio. Nomadic will enable Spearmint to continue to execute our mission of facilitating the clean energy revolution through the delivery of renewable power to the grid efficiently, safely, and where communities need it most.

“As we approach the first anniversary of Spearmint, we are tremendously energised for the future potential of our company and its ability to positively impact our environment by responsibly reducing carbon emissions.

“We look forward to further scaling our regionally diverse project portfolio over the near-term, to the benefit of our world over the long-term.”