CHARLOTTESVILLE, Va.–(BUSINESS WIRE)–East Point Energy, an Equinor Company, has announced the launch of its Project Acquisition Program. The company has a strategy to acquire standalone energy storage, solar, and solar plus storage projects in the United States. Initially, the company will favor standalone storage projects that can achieve commercial operation in 2024 and 2025 in ERCOT, PJM, NYISO, and ISONE, but will review and consider projects in all power markets. The project development team at East Point understands and welcomes development risk in earlier-stage assets; therefore, the acquisition program will consider projects at any stage of development, from pre-construction projects to operating assets. East Point is a fair, low transaction-risk investment partner with a transparent governance process that seeks projects with merchant risk and uncontracted revenue.
“With our Project Acquisition Program, East Point aims to become a trusted, reliable investment partner to project developers in the renewable energy industry for years to come,” says Andrew Foukal, CEO of East Point. “We look forward to building on our parent company’s strong track record of managing and optimizing merchant risk across a diverse portfolio of operating assets.”
East Point is a development firm focused on the origination, construction, and operation of energy storage projects. In July 2022, East Point announced that it will operate as a wholly-owned subsidiary of Equinor, a broad international energy company committed to long-term value creation in a low-carbon future. East Point plans to expand the company’s scope to include developing, constructing, and owning and operating solar projects, leaning on the executive team’s prior experience developing dozens of solar projects, 800 megawatts of which are now operating across the United States. To learn more about East Point’s Project Acquisition Program, please reach out to [email protected].
About East Point Energy
East Point Energy is a development firm focused on the origination, construction, and operation of energy storage projects. Our team is currently developing gigawatts of energy storage projects throughout the country, helping to transform the grid into a renewable, resilient, and affordable system for generations to come. East Point is a wholly owned subsidiary of Equinor, a broad international energy company committed to long-term value creation in a low-carbon future.