power move

Houston company secures $837M for trio of Texas energy storage projects

All three of Intersect Power's storage systems — Lumina I, Lumina II, and Radian — are expected to be online this year. Photo courtesy of Intersect

Houston-based clean energy company Intersect Power has wrapped up $837 million in financing for the construction and operation of three standalone battery energy storage systems in Texas.

The money came in the form of debt financing, construction debt, and tax equity. The projects qualify for tax credits under the federal Inflation Reduction Act. Backers of the financing include Deutsche Bank, Morgan Stanley, and affiliates of HPS Investment Partners.

All three storage systems — Lumina I, Lumina II, and Radian — are expected to be online this year. Each system will be capable of storing 320 megawatts of solar power with a two-hour duration.

“Batteries will be a vital part of the energy transition and are the perfect complement to the billions of dollars of solar generation that we are building in California and Texas,” Sheldon Kimber, founder and CEO of Intersect, says in a news release.

Kimber says the storage systems will help Intersect Power triple the size of its portfolio over the next three years.

Intersect’s portfolio features 2.2 gigawatts of solar projects that are already operating, and 2.4 gigawatt hours of storage being operated or built. The company was founded in 2016.

Intersect recently signed a deal with Tesla Energy for 15.2 gigawatt hours of Megapack battery energy storage systems. The contract, which will deliver systems for Intersect projects in Texas and California, ends in 2030.

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A View From HETI

Ching-Wu Chu, a professor of physics at the University of Houston and founding director and chief scientist at Texas Center for Superconductivity. Photo courtesy of UH

University of Houston researchers have set a new benchmark in the field of superconductivity.

Researchers from the UH physics department and the Texas Center for Superconductivity (TcSUH) have broken the transition temperature record for superconductivity at ambient pressure. The accomplishment could lead to more efficient ways to generate, transmit and store energy, which researchers believe could improve power grids, medical technologies and energy systems by enabling electricity to flow without resistance, according to a release from UH.

To break the record, UH researchers achieved a transition temperature 151 Kelvin, which is the highest ever recorded at ambient pressure since the discovery of superconductivity in 1911.

The transition temperature represents the point just before a material becomes superconducting, where electricity can flow through it without resistance. Scientists have been working for decades to push transition temperature closer to room temperature, which would make superconducting technologies more practical and affordable.

Currently, most superconductors must be cooled to extremely low temperatures, making them more expensive and difficult to operate.

UH physicists Ching-Wu Chu and Liangzi Deng published the research in the Proceedings of the National Academy of Sciences earlier this month. It was funded by Intellectual Ventures and the state of Texas via TcSUH and other foundations. Chu, founding director and chief scientist at TcSUH, previously made the breakthrough discovery that the material YBCO reaches superconductivity at minus 93 K in 1987. This helped begin a global competition to develop high-temperature superconductors.

“Transmitting electricity in the grid loses about 8% of the electricity,” Chu, who’s also a professor of physics at UH and the paper’s senior author, said in a news release. “If we conserve that energy, that’s billions of dollars of savings and it also saves us lots of effort and reduces environmental impacts.”

Chu and his team used a technique known as pressure quenching, which has been adapted from techniques used to create diamonds. With pressure quenching, researchers first apply intense pressure to the material to enhance its superconducting properties and raise its transition temperature.

Next, researchers are targeting ambient-pressure, room-temperature superconductivity of around 300 K. In a companion PNAS paper, Chu and Deng point to pressure quenching as a promising approach to help bridge the gap between current results and that goal.

“Room-temperature superconductivity has been seen as a ‘holy grail’ by scientists for over a century,” Rohit Prasankumar, director of superconductivity research at Intellectual Ventures, said in the release. “The UH team’s result shows that this goal is closer than ever before. However, the distance between the new record set in this study and room temperature is still about 140 C. Closing this gap will require concerted, intentional efforts by the broader scientific community, including materials scientists, chemists, and engineers, as well as physicists.”

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