Ørsted Partners with Mission Clean Energy to Develop 1 GW of Storage Projects across the Midwest

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Aug 08, 2024, 09:00 ET

Partnership broadens Ørsted's portfolio of U.S. clean energy technologies and marks its first joint venture into standalone storage development

AUSTIN, Texas, Aug. 8, 2024 /PRNewswire/ -- Ørsted, a leading clean energy company, announced today a strategic partnership with Mission Clean Energy ("Mission"), a utility-scale renewable energy and storage developer, to advance four standalone battery energy storage systems (BESS) across the Midwest. The partnership with Mission complements Ørsted's existing development efforts while broadening and diversifying the portfolio of technologies it can offer to utilities and other customers.

"We look forward to working with Mission Clean Energy under this unique partnership to accelerate the expansion of storage projects across the Midwest and broaden our portfolio of renewable energy technologies and services for customers," said James Giamarino, Chief Commercial Officer at Ørsted. "Continuing to invest in and build out storage solutions is critical for ensuring a resilient and reliable grid, and this partnership with Mission advances this important goal."

Mission aims to leverage Ørsted's extensive operational leadership and resources to bring these projects to fruition. Ørsted will utilize its capital to secure and maintain interconnection queue positions for the four storage projects owned by Mission, while Mission will continue to lead development of the projects. Mission and Ørsted submitted interconnection applications for the projects, totaling 1GW, in the Mid-Continent Independent System Operator (MISO) Central and North. Ørsted will have the option to acquire an ownership stake in the projects as they mature.

"The partnership with Ørsted marks a significant milestone for Mission Clean Energy," said Max Bakker, CEO of Mission Clean Energy. "Ørsted is an ideal partner to complement our development capabilities with their balance sheet strength and sponsorship support. Our combined expertise and resources will accelerate these projects and deliver impactful clean energy solutions in the MISO region."

This partnership highlights Mission's expertise in strategic market entry analysis and project execution. MISO's robust, long-term demand for new storage capacity necessitates a strong understanding of key market drivers. The region is experiencing a transformative shift in its supply mix, driven by a significant increase in non-emitting generation resources. The four projects are strategically sited to meet capacity requirements and manage increasing grid volatility, with a strong emphasis on the locational benefits that they will provide.

This agreement creates access to valuable assets which add to Ørsted's development pipeline, bolstering its strategic focus on increasing storage along with wind and solar and providing integrated solutions for customers. In addition to developing in the Midwest, Ørsted continues to seek opportunities to expand storage capacity across the U.S.

This initiative is Ørsted's first standalone battery storage partnership both in the U.S. and globally, building on Ørsted's existing portfolio of co-located solar and storage projects. This includes the 40MW storage project at Permian Solar Center in West Texas and the 300 MW/1200 MWh storage project at Eleven Mile Solar Center in Arizona. The storage project at Eleven Mile Solar Center is one of the largest built in a single phase in the United States. With a portfolio of nearly 6 GW of renewable energy projects in operation or under construction in the U.S., Ørsted looks to expand its presence in the Midwest while supporting Mission Clean Energy.

About Ørsted
A global clean energy leader, Ørsted develops, constructs, and operates offshore and land-based wind farms, solar farms, energy storage facilities, power-to-x facilities, and bioenergy plants. Ørsted is the only energy company in the world with a science-based net-zero emissions target as validated by the Science Based Targets initiative and is recognized as the world's most sustainable energy company in the Corporate Knights Global 100 index.

In the United States, the company has approximately 700 employees and a portfolio of clean energy assets and partnerships that includes offshore wind energy, land-based wind energy, solar, battery storage and e-fuels. Ørsted is a U.S. leader in offshore wind energy with approximately 3 gigawatts in development and operates America's first offshore wind farm, located off the coast of Block Island. Ørsted has a total U.S. land-based capacity of over 5 gigawatts across wind, solar, storage technologies and e-fuels. To learn more about the Ørsted U.S. business, visit us.orsted.com or follow the company on Twitter (@OrstedUS), Instagram, and Facebook.

About Mission Clean Energy
Mission is a utility-scale renewable energy and storage developer focused on accelerating America's clean energy future, leading the way by providing clean, abundant, and reliable energy to communities throughout the U.S. The company's greenfield focus is complemented by full development cycle experience and a team dedicated to growing a company focused on large-scale energy projects. With an 11GW+ pipeline of solar and storage development assets across key power markets in the United States, the team has experience originating over 5GW of pipeline annually. Backed by Wafra Inc., a $31 billion asset manager, Mission leverages opportunities for collaboration across industries. Mission's well-networked, expert team has been delivering dependable, customized grid-scale energy solutions for utilities, municipalities, cooperatives, and corporate customers for over a decade.

For more information, please visit www.missioncleanenergy.com or follow the company on LinkedIn.

SOURCE Ørsted