U.S.-based renewables company CleanCapital, through a joint venture with Osaka Gas USA, has acquired a majority interest in a 7.7-MW/30.8-MWh energy storage portfolio in New York City, U.S.
CleanCapital will be the managing member and maintain the joint venture relationship with Osaka Gas USA.
The portfolio consists of a pair of operating standalone battery energy storage systems (BESS) located on Staten Island in New York City. The two projects, called Arlington and Littlefield, became operational in July and August 2023, respectively.
The batteries participate in New York’s Value of Distributed Energy Resources (VDER) program, with NYU Langone Hospitals serving as the sole net‑crediting offtaker for both systems.
Julia Bell, Chief Investment Officer at CleanCapital said: “This investment reflects CleanCapital’s continued commitment to scaling reliable, resilient clean energy infrastructure in the markets where it is most urgently needed.”
Energy storage assets like Arlington and Littlefield are becoming increasingly important to communities and businesses across the U.S. amid increasing energy costs and tightening supply.
BESS assets help reduce strain during periods of peak demand, stabilise energy costs, and provide instantaneous support to the grid.
“We are pleased to partner with CleanCapital on this acquisition as we continue to expand our presence in the U.S. power market,” said Shingo Morii, Senior Vice President at Osaka Gas USA.
“Projects like these play an important role in strengthening grid reliability and resilience in New York City, while supporting the integration of clean energy and meeting growing demand.
“We look forward to working with CleanCapital and the project stakeholders to deliver long-term value through safe and reliable operations.”
CleanCapital develops, builds, owns, operates, and invests in clean energy assets across the U.S.
The company has built a diverse portfolio of operating assets and a growing project pipeline.
It recently secured US$300 million to advance a portfolio of distributed generation solar and energy storage assets.