BESS POWER CORPORATION REACHES ITS FIRST MILESTONE: ERCOT CONFIRMS THE CAPACITY OF LUND STORAGE PROJECT FOR A TOTAL POWER OF 407.55 MW

DOVEN, Del., July 3, 2023 /PRNewswire/ -- Bess Power Corporation ("BESS Power") announces that the Lund Storage project has started the Full interconnect Study (FIS) in conjunction with the Texas independent system operator, Electric Reliability Council of Texas Inc. ("ERCOT"), and Lower Colorado River Authority ("LCRA"). Lund Storage has an import/export capacity of 407.55 MW, establishing it as one of the largest utility-scale energy storage projects in the state of Texas.

BESS Power Corp, is owned jointly by Redelfi, a Euronext Milan listed company, Altea Green Power, and the U.S. based developer Elio Energy Group LLC. Lund Storage is the first project in a growing portfolio. BESS Power purchased the US-registered SPV Lund Storage Center 1 LLC earlier this year, which is located on 50 acres of privately-owned land in Travis County, Texas.

Philip Herman, Chief Operating Officer of BESS Power, said, "Our main focus has been to grow our greenfield portfolio with the highest quality projects possible, which Lund Storage is an excellent example of. The early success of Lund Storage is a step in the right direction and demonstrates the drive and deep expertise of our team and partners as we work towards our goals. Energy storage will play an ever-increasing role in the transmission system in ERCOT and elsewhere across the country."

Lund Storage is now moving forward with the Full Interconnect Study, with a projected commercial operations date in 2026. This marks a key milestone in BESS Power's goal of developing in excess of 2 GW of stand-alone storage projects across the USA.

About BESS Power:

BESS Power Corporation is a leading utility-scale energy storage developer with a primary focus on stand-alone BESS (Battery Energy Storage Systems) projects across the United States. Established with Redelfi Group, Altea Green Power and Elio Energy Group LLC, BESS Power Corporation is manufacturer independent, providing best-in-class energy storage solutions. The combination of these key market players brings a wealth of financial capabilities and technical expertise in this fast-growing market.

For more information, visit www.besspowercorp.com.

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SOURCE BESS Power Corporation