Eolus has signed an agreement to sell the 100 MW/400 MWh stand-alone battery energy storage project, Pome, located in Poway, CA, U.S. The project is currently under construction, with planned commercial operation in the first half of 2025. This marks Eolus’ fourth project sold in the United States.
The buyer is a leading, privately held producer of renewable energy in the U.S. Eolus has been developing the project since 2019. Following an investment decision in 2023, construction commenced later that year. The total enterprise value for the project is in the USD 230-235.5 million range.
Closing of the transaction is subject to fulfilment of certain conditions and is expected to occur in Q1 2025.
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Download free sample pagesThe project has a planned capacity of 100 MW/400 MWh and includes a ten-year tolling agreement with a California load-serving entity. The agreement allows the end-user to use the battery system to store, manage, and dispatch stored electricity to its customers.
