The energy storage projects secured by Eos are estimated to have a value of more than $250m
Eos Energy Storage has signed an agreement to deliver over 1 GWh of energy storage projects to Chicago-based Hecate Energy.
The energy storage projects secured by Eos are estimated to have a value of more than $250m.
Hecate is a major global developer, owner and operator of solar, natural gas, wind, and energy-storage projects.
The agreement with Hecate is expected to further expands Eos’ pipeline commitments to 3GWh.
Eos expects to receive purchase orders from Hecate in the next six to nine months, upon the completion of several customary closing conditions.
Hecate Energy chief technology officer Fazli Qadir said: “Eos’ technology is a great fit for the longer-duration application requirements of these projects, and we’re excited by the ability of Eos’ solutions to flexibly operate across a range of use cases that are front and center in the energy industry.”
Under the agreement, Eos will design, manufacture, and deliver its zinc-based battery solutions to Hecate over the course of the next 24 months across Colorado, New Mexico, and Texas.
The projects are said to be a combination of standalone battery storage and storage paired with solar photovoltaics (PV) for renewable energy capacity.
Eos said that the projects are indicative of the shifting dynamics of the energy storage market from shorter duration systems to longer duration systems.
Hecate claims to have developed and built renewable projects totaling over $1bn in asset value. It has also entered into more than 1GW of renewable energy power purchase agreements (PPAs).
In May, Eos secured an order to manufacture, design, and deliver a 1MW /MWh behind the meter (BTM) Battery Energy Storage System (BESS) in Motor Oil’s Corinth Refinery in Athens, Greece.