Description
Title: Authorize negotiation and execution of a battery storage agreement with Balcones Ridge Resiliency II, LLC, a Jupiter Power subsidiary, for up to 200 megawatts of electrical power capacity from a utility-scale battery facility, in an estimated amount not to exceed $16,000,000 per year, for a term of up to 20 years, for a total agreement amount not to exceed $320,000,000. Funding: Contingent upon available funding in future budgets.
Summary
The City of Austin is considering a battery storage agreement with Balcones Ridge Resiliency II, LLC, a subsidiary of Jupiter Power, to secure up to 200 megawatts (MW) of electrical power from a utility-scale battery facility. This contract, estimated at $16 million annually for a maximum of 20 years, totals up to $320 million, contingent upon future budget approvals. The agreement comes after Austin Energy's earlier negotiations with OCI Energy, which fell through. The new arrangement aims to enhance Austin Energy's battery storage capacity to 340 MW, surpassing the goal of 300 MW by 2030. This initiative is significant for reducing local wholesale load price risks and does not require Austin Energy to fund construction or maintenance. The