Plus Power Secures Contract for 150 MW Energy Storage Project

Plus Power's Strategic Move in Energy Storage

The recent contract awarded to Plus Power for its 150 MW / 600 MWh Corazon Energy Storage project marks a significant step toward enhancing grid reliability and driving economic development. This initiative not only supports the region's energy needs but also aligns with broader objectives aimed at achieving clean energy goals.

Details of the Corazon Energy Storage Project

Plus Power's Corazon Energy Storage project has garnered a 20-year contract from Public Service Company of New Mexico (PNM), contingent upon regulatory approvals. This agreement is in response to PNM's 2026-2028 Generation Resources Request for Proposals, which was issued to seek out projects capable of meeting the increasing energy demands in the area while transitioning to a zero-carbon energy landscape.

Implementation Timeline

Pending the necessary approvals, the construction of Corazon Energy Storage is slated to begin in 2026, with the aim of becoming operational by late 2027. This facility is designed to enhance grid reliability by capturing excess energy that can be redirected back to the grid during periods of peak usage and unexpected demand factors.

Support for Renewable Energy Integration

Corazon Energy Storage serves as a crucial asset for integrating wind and solar energy into PNM's distribution network. Being the leading utility provider in the region, PNM recognizes battery energy storage as vital for achieving its ambitious target of a 100% carbon-free electric generation portfolio by 2040—five years ahead of state mandates.

Location of the Project

The energy storage facility will connect to the grid at the Pajarito Substation, strategically positioned to optimize energy storage and dispatch from renewable sources throughout the region.

Collaborative Efforts Between Plus Power and PNM

Plus Power's collaboration with PNM highlights a commitment to meet customer energy requirements while transitioning to sustainable energy practices. According to Brandon Keefe, executive chairman and CEO of Plus Power, this partnership is pivotal in ensuring the continued reliability and sustainability of the electricity system in the region.

As part of its growth strategy, Plus Power is making strides in expanding its footprint in the Southwest, entering its sixth state market. The company is recognized as a leader in developing, owning, and operating standalone battery energy storage systems, with a substantial portfolio that encompasses 10 GW of projects across 28 states and Canada.

Innovative Energy Solutions by Plus Power

Plus Power has established several operating facilities in key locations such as Arizona, Texas, and Hawaii, collectively boasting a capacity of 1,650 MW / 4,150 MWh. Notably, its 185 MW / 565 MWh facility in Hawaii stands as a groundbreaking grid-scale battery storage solution, assisting Hawaiian Electric in transitioning from coal power.

In addition, their Sierra Estrella Energy Storage facility in Arizona is currently the largest standalone battery system in the state. Furthermore, Rodeo Ranch Energy Storage represents another example of Plus Power's commitment to advancing energy storage capabilities within ERCOT.

About Plus Power

Headquartered near Houston, Plus Power is accelerating the deployment of advanced battery energy storage systems throughout the U.S. Their focus on developing, owning, and operating these facilities empowers faster integration of renewable energy resources. Plus Power continues to operate at the intersection of energy, technology, and finance, advancing its mission to create a more sustainable energy landscape.

Contact Information

For further inquiries, please contact:

Polly Shaw
pshaw@pluspower.com
+1-415-577-5763

Frequently Asked Questions

What is the primary goal of the Corazon Energy Storage project?

The primary goal is to enhance grid reliability while integrating renewable energy resources in the region.

When is the Corazon Energy Storage project expected to begin construction?

Construction is expected to begin in 2026, with the project aiming for completion by late 2027.

How does the project align with PNM’s sustainability goals?

This project supports PNM's objective to reach 100% carbon-free electric generation by 2040.

What role does Plus Power play in the energy market?

Plus Power is a leading developer and operator of energy storage projects, driving innovation in renewable energy integration.

Where can I find more information about Plus Power?

Visit Plus Power's official website to learn more about its projects and initiatives.

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