Bitech Technologies and Bridgelink Development have agreed to jointly develop a 5.8GW pipeline of projects in the United States. The initiative will involve 3.8GW of solar power plants and 19GW of battery energy storage systems (BESS) across the states of Arizona, Louisiana and Texas.
Both the companies have already negotiated financing terms for these projects, as well as the creation of a joint venture with a major infrastructure group.
The development of these assets will be carried out through a share subscription agreement for up to an investment of US$250m.
A letter of intent for late-stage BESS projects in Texas will also be signed by Bitech and Bridgelink for up to US$100m. Incentive tax credits (ITC) will also be sold.
For more information on energy storage projects in the US, please visit EICDataStream.