Developer Eolian has closed investment for 200MW of single-site energy storage capacity in the US state of Texas, an industry first under the landmark climate law which enabled standalone utility-scale battery systems to qualify for the federal investment tax credit (ITC).

A fund managed by Churchill Stateside, a Florida real estate financial services group, provided the undisclosed sum of tax equity investment in the interconnected Madero and Ignacio energy storage stations under construction near the border with Mexico.