Plus Power has completed $1.8bn in new financing for standalone battery storage totaling 1.04GW/2.76GWh in Arizona and Texas, including the largest such transaction for a single project, as lenders ramp capital deployment for a sector that will be key to enabling a cleaner, more resilient electric grid.

The transactions will support construction and operation of five projects: Sierra Estrella, 250MW/1GWh, and Superstition, 90MW/360MWh, in Arizona; and Rodeo Ranch, 300MW/600MWh, Ebony, 200MW/400MWh, and Anemoi, 200MW/400MWh, in Texas.