Key Capture Energy adds 200 MW of BESS in Texas

Two 100 MW battery energy storage (BESS) projects developed by Key Capture Energy have commenced commercial operations. They are in the counties of Denton and Grimes in Texas.

Following the addition of the 200 MW of Texan BESS, Key Capture Energy now has more than 620 MW of utility-scale battery storage facilities in operation across the United States. The New York company claims its development pipeline across the United States is more than 10 GW.

In addition to the commercial operations news, Key Capture Energy also announced the transfer of investment tax credits (ITCs) for both Texas projects to an unnamed third party. This transaction is the company’s second under the Inflation Reduction Act (IRA).

Brian Hayes, CEO of Key Capture Energy, said the company was looking forward to bringing more battery energy storage online to support a more resilient grid.

Hayes described the transfers as “an important milestone” for the business to boost its investment in its development pipeline. He said the ITC was a good financial tool for the industry to encourage companies to add more energy storage capacity to the grid.

Both newly operational Texan facilities are standalone and operate within the Electrical Reliability Council of Texas (ERCOT) market. They qualify for the 10% energy community tax credit bonus under the IRA.

Key Capture Energy completed its first ITC transfer in December 2023, transferring credits from two operating BESS projects in Williamson County, Texas, totaling 100 MW, and one 20 MW project in New York.

Although headquartered in Albany, New York, Key Capture Energy has offices in Houston, Texas and has been building BESS projects in the area since 2020. According to its website, its first projects in Texas were completed in 2020 and amounted to 9.9 MW.