The Solar Product Registry Set to Boost Solar Deployment

Eagle Point Credit Management LLC (“Eagle Point”), a private credit investment manager, announced that it has provided $18 million in project financing to Energy Vault. The funding supports Energy Vault’s 57 MW / 114 MWh Cross Trails Battery Energy Storage System (BESS), a grid-scale project that began full commercial operations in June 2025. The facility is now delivering essential grid resiliency and ancillary services to the Electric Reliability Council of Texas (ERCOT) market under a 10-year offtake agreement with Gridmatic. This agreement marks the first physically settled revenue floor contract for a BESS in the ERCOT market.

Cross Trails serves as the first deployment of Energy Vault’s second-generation B-VAULT AC product, enabling Energy Vault to deliver the system quickly and at low cost while also providing higher levels of system availability in the ERCOT region. The system is equipped with Energy Vault’s VaultOS Energy Management System to control, manage and optimize the BESS operations.

“Eagle Point is excited to partner for a second project with Energy Vault on the Cross Trails BESS, which represents an attractive addition of grid-scale energy storage technology in the critical ERCOT market,” said Jennifer Powers, Principal and Head of Infrastructure Credit at Eagle Point. “We have been impressed with Energy Vault’s track record, ability to deliver projects on time and on budget and their thoughtful commercialization and contracting strategy. Their ability to bring much needed storage assets to key markets in Texas, California and Nevada – over 1 GWh over the past 12 months – speaks to their leadership in the battery storage and micro grid space.”

“The combination of Energy Vault’s innovative technology stack and the Cross Trails 10-year offtake agreement presents a compelling credit opportunity that aligns with our focus on supporting sustainable and financially attractive infrastructure projects. We look forward to our ongoing partnership with Energy Vault as they continue to grow and expand their portfolio of owned and operated assets,” Powers added.

“The successful financing of our Cross Trails BESS project represents another significant milestone in executing our ‘Own & Operate’ strategy, delivering strong returns that will generate predictable, high margin and recurring revenue streams,” said Robert Piconi, Chairman and Chief Executive Officer of Energy Vault. “Following our recent Calistoga Resiliency Center project financing with Eagle Point, this latest financing close with them demonstrates our ability to attract premium financing partners while building a diversified portfolio of attractive energy storage assets across the globe. With an attractive return and a 10-year offtake agreement in place, the Cross Trails BESS is another example of our commitment to creating long-term shareholder value through strategic energy storage asset ownership and operation in key growth markets.”

This investment underscores Eagle Point’s ongoing commitment to backing clean energy infrastructure with stable, long-term economic and environmental impact. As the energy transition accelerates, Eagle Point continues to identify and invest in differentiated projects with strong counterparties and proven technology platforms.

This is Eagle Point’s second collaboration with Energy Vault, following a $28 million financing for the Calistoga Resiliency Center earlier this year.

Eagle Point | www.eaglepointcredit.com 

Energy Vault | www.energyvault.com 

Dominion Energy Virginia announced that it plans to install a solar array on the roof and parking lot of the Richmond Flying Squirrels’ future stadium. After the Flying Squirrels’ 2026 season, Dominion Energy plans to install more than 1,700 solar panels on CarMax Park’s two-tiered roof, in addition to five solar-covered carports in an adjacent parking lot. The installation is expected to be among the largest in all of professional baseball, including both the major and minor leagues. It will require local and state approval.

The solar installation will generate about 1 megawatt (MW) of carbon-free electricity, enough to power 250 Richmond homes at peak output. The stadium project will also count toward the company’s goal of using previously developed land for some power generation projects.

“We’re thrilled that such an iconic Richmond landmark will help deliver reliable, affordable and increasingly clean power for our customers,” said Ed Baine, Dominion Energy’s Executive Vice President of Utility Operations and President of Dominion Energy Virginia.

If approved by regulators, the project will add to Dominion Energy’s growing solar fleet in Virginia, which is the third largest in the country among utilities and produces enough power for more than 750,000 homes at peak output

“We’re proud to partner with Dominion Energy Virginia to bring a new solar array to CarMax Park, further cementing Richmond’s leadership in clean energy,” Flying Squirrels Managing Partner Lou DiBella said. “This project isn’t just about what happens inside the ballpark; it’s about stepping up as a community partner and using our platform to help bring clean energy to the city.”

“This solar project represents the kind of integrated, collaborative approach that’s essential to achieving Richmond’s clean energy goals,” said Laura Thomas, Director of the City of Richmond’s Office of Sustainability. “It’s a great example of how public, private, and community partners can come together around a shared vision for a more resilient, sustainable future.”

CarMax Park is expected to be completed by the start of the team’s 2026 season and will serve as an anchor in the city’s newly named Diamond District, currently under redevelopment. The Flying Squirrels are the Double-A affiliate of the San Francisco Giants.

Dominion Energy | https://www.dominionenergy.com/

SolarEdge Technologies, Inc. (NASDAQ: SEDG), a global leader in smart energy technology, is proud to announce a strategic partnership with Schaeffler, a leading automotive and industrial supplier, to deploy electric vehicle (EV) charging infrastructure and software across Schaeffler sites. The partnership will support Schaeffler in commissioning around 2300 charging points in Europe.

By integrating hardware and SolarEdge’s EV charging software capabilities into Schaeffler’s infrastructure, the collaboration will enable Schaeffler employees and fleet vehicle drivers to charge their EVs at company locations, starting with the newly electrified parking lot at Schaeffler’s Technology Center (Technologiezentrum) at its global headquarters in Herzogenaurach, Germany.

Powered by SolarEdge’s Wevo technology, now part of its advanced ONE for C&I energy optimization platform, the solution is designed to deliver a frictionless charging experience for employees including a custom app.

“We are excited to deepen our partnership with Schaeffler,” said Naama Ohana, Chief Commercial & Industrial Division at SolarEdge. “Our solar technology has powered Schaeffler rooftops with safe, reliable energy for many years. Now, our Enterprise Service Group is proud to further support Schaeffler’s energy transition by delivering EV charging software, services, and hardware. This is a great example of how our advanced software capabilities can add value to our customers’ energy transition strategy.”

SolarEdge | https://www.solaredge.com/en

Energy Vault (NYSE: NRGV) ("Energy Vault" or the “Company”), a global leader in sustainable energy storage solutions, announced an agreement with Consumers Energy, Michigan’s largest energy provider, for the supply of two battery energy storage systems (BESS), totaling 75 MW/300 MWh. The BESS deployments will be located in Iosco and Bay Counties, with battery deliveries expected to commence in Q4 2025, construction expected to begin in Q1 2026 and commercial operation expected by Q4 2026.

The 45 MW/180 MWh Weadock BESS will be located at the site of the now-retired John C. Weadock Power Plant in Hampton Township, while the 30 MW/120 MWh Iosco County BESS will be located in Oscoda Township. Local permitting efforts are actively underway in coordination with township officials to support project development. Both BESS deployments will be charged and discharged on a daily basis and designed to dispatch stored renewable energy at peak consumption hours to help meet Michigan’s energy demand.

“As the energy transition accelerates, utilities like Consumers Energy are stepping up to ensure grid reliability while integrating more renewable energy. We are proud to partner with Michigan’s largest energy provider on these critical projects, which will not only help meet peak demand with energy but also exemplify how advanced storage technologies can support grid resilience at scale,” said Marco Terruzzin Chief Revenue Officer, Energy Vault. “This contract marks Energy Vault’s continued expansion across the US with a leading Midwest utility partner committed to delivering sustainable energy at scale—and it lays the foundation for a long-term strategic partnership focused on enabling a more resilient and sustainable energy future for Michigan and beyond.”

“Battery storage will continue to play a larger role as Consumers Energy meets Michigan’s growing energy needs. We’re excited to collaborate with Energy Vault to bring these two projects to life in the communities we serve,” said Sri Maddipati, Consumers Energy’s president of electric supply.

The BESS deployments will be developed under Energy Vault’s B-VAULT suite of fully integrated battery energy storage solutions, and will leverage Energy Vault’s proprietary X-Vault integration platform and Vault-OS Energy Management System to control, manage and optimize the BESS operations, allowing for superior energy management capabilities. Energy Vault’s innovative system architecture provides customer optionality with both battery and inverter suppliers, while unique AC-coupled and DC-coupled configurations provide the drop-in flexibility needed for any project.

Today’s announcement marks an advancement of Energy Vault’s growing commercial footprint in the global battery energy storage market, with the Company’s B-VAULT portfolio consisting of more than 2GWh in total projects either deployed or currently in development to date.

Energy Vault | www.energyvault.com 

As electrification surges across New York City, Revel is showcasing leadership in grid-optimized electric vehicle (EV) charging. The Brooklyn-based electric mobility pioneer has officially activated SmartKit Demand Response technology at its new Supercharging Hub located at the historic Dime Building (275 South 5th Street, Williamsburg) — a state-of-the-art charging site that supports the city’s clean energy transition while reducing emissions and grid strain. This marks Revel’s fourth year participating in grid services across its various facilities.

The Williamsburg facility represents the latest milestone in Revel’s partnership with SmartKit, a virtual power plant (VPP) software developed by Logical Buildings. By strategically shifting the timing of vehicle charging sessions, Revel helps alleviate pressure on the grid during peak hours — when electricity is both dirtiest and most expensive — while generating revenue through utility-provided Demand Response incentives.

As New York City accelerates toward a carbon-free grid under its ambitious climate goals, grid-interactive electric vehicle infrastructure will be critical. Charging intelligently, particularly during extreme weather and demand spikes, reduces emissions from peaker plants — which can emit twice as much CO₂ and 20 times more NOₓ than traditional power sources.

Revel’s grid-responsive operations were put to the test as New York City kicked off the 2025 Demand Response season with three consecutive curtailment events from June 23 to June 25, many lasting 10+ hours each. This sustained effort, which required Revel to dynamically schedule charging loads across its infrastructure, played a key role in supporting grid stability during an unprecedented strain on the electric system due to extreme heat with temperatures soaring in the triple digits on June 24.

“Our Williamsburg Superhub proves that EV infrastructure can be a grid asset, not a strain, by dynamically responding to grid stress signals,” said Paul Suhey, Revel COO & Co-Founder. “As electricity demand rises with electrification and continued extreme heat events, smart charging plays a crucial role in helping New York build a resilient, decarbonized future.”

The severity of the recent grid stress cannot be overstated. On Tuesday, June 24, the utility provider in New York and Westchester forecasted electricity usage to reach 100.71% of the system peak — a rare and urgent grid stressor. (By comparison, Demand Response events are typically triggered when demand hits just 92% of peak capacity). Additionally, the New York Independent System Operator (NYISO) reported that peak electricity demand reached 31,857 megawatts (MW) during the three-day heat wave—the highest level recorded since 2016.1 During these critical events Revel’s actions provided immediate and measurable grid-positive relief.

At its Williamsburg Superhub, which houses 15 public EV charging stalls capable of fully charging a vehicle in 20 minutes or less, Revel curtailed 250 kilowatts of load, contributing to avoided emissions from fossil fuel peaker plants. This targeted load reduction is expected to yield tens of thousands in grid services revenue — while delivering instantaneous and impactful resiliency for the local power grid.

“Revel is showing how electric mobility companies can actively participate in electric load management,” said David Klatt, President of Logical Buildings. “By using SmartKit, Revel is turning electric load into flexible, responsive capacity — a replicable model for cities looking to decarbonize while electrifying. As cities decarbonize, electric use will rise—and this new electric demand needs to be grid-interactive.”

The Revel–SmartKit partnership first launched in 2021 with the company’s electric moped fleet and has now evolved into a powerful model for full-scale EV infrastructure. With the new Williamsburg Superhub online and integrated into New York’s Demand Response programs, Revel is actively shaping the next phase of grid flexibility and reliability.

Revel | gorevel.com 

Logical Buildings | logicalbuildings.com

Sources
1 “June Heatwave Tests Electric Grid in New York,” New York Independent System Operator (NYISO), published July 28, 2025. https://www.nyiso.com/-/june-heatwave-tests-electric-grid-in-new-york

Envision Energy, a global leader in green technology, has announced a significant breakthrough in wind power innovation: its next-generation two-blade onshore smart turbine prototype has achieved over 500 days of stable operation, with a remarkable availability rate of 99.3%, MTBT of 2,444 hours, and equivalent full-load hours reaching 3,048 hours per year. Field performance confirms that the two-blade turbine is on par with traditional three-blade machines operating at the same site.

This turbine is built on Envision's Model X onshore platform, featuring a modular design and high-speed DFIG (Doubly-Fed Induction Generator) technology with enhanced stability. Designed for high performance, lightweight construction, and system-level efficiency, it offers a competitive integrated energy solution for diversified green power applications.

"By overcoming key technical challenges such as excessive system vibration and load imbalance - barriers that have long held back two-blade designs, Envision has once again redefined wind power innovation by becoming the first in the industry to demonstrate long-term operational verification of a next-generation two-blade turbine." said Mr. Lou Yimin, Senior Vice President and Chief Product Officer at Envision Energy.

Envision's journey with two-blade turbine technology began more than a decade ago. In 2012, the company's Global Innovation Center (GIC) in Denmark successfully developed the "Game Changer" - a 3.6 MW offshore two-blade turbine - becoming one of the first global innovators to pioneer this unconventional design in the heartland of the wind industry. Since the prototype was installed in 2013, Envision has accumulated significant product development and operational know-how, laying the foundation for its new-generation two-blade turbines.

To bring new technology from concept to commercialization, extensive validation is critical. Envision's two-blade turbine underwent months of rigorous testing and nearly two years of real-world field operation at its smart wind power verification center, backed by a multi-level, full-process, all-condition validation system. Notably, using one of the  industry's first multi-degree-of-freedom full-system loading test rigs, Envision defined dozens of unique two-blade operating conditions, focusing on critical performance metrics. All parameters were systematically planned, tested, and validated to ensure technological maturity and readiness for commercial deployment.

Envision's new-generation two-blade turbine offers a fresh alternative to conventional three-blade models, particularly in scenarios where cost efficiency, transportability, and modular deployment are paramount. This breakthrough reaffirms Envision's leadership in global wind innovation and its commitment to accelerating the transition to net zero through next-generation clean energy technologies.

Envision Energy | https://www.envision-group.com/

Adapture Renewables, Inc. ("Adapture"), a utility-scale solar and energy storage project developer, owner and operator, announced the commercial operation of two battery energy storage system ("BESS") projects in Texas, marking the company's first operational projects in their energy storage portfolio. To operate the systems, Adapture has engaged Ascend Analytics ("Ascend"), the leading provider of market intelligence and analytics solutions for the power industry, and will utilize its SmartBidder™ solution to maximize asset performance.

Texas' primary grid operator, ERCOT, is predicting the state's energy needs will increase in excess of 20% by 2030, an unprecedented acceleration of demand growth that will increasingly necessitate support from energy storage. Located in Collin County and Kimble County, Texas, the Adapture projects have the collective capacity to store and dispatch nearly 50 MWh, supporting the grid with sufficient power for up to 67,000 homes for one hour daily during peak electricity demand. The Collin and Kimble County projects, which began commercial operations on February 20th and March 3rd respectively, are already providing energy to the grid, and a third project in Galveston County, Texas is anticipated to come online in the fall, increasing this portfolio by 33% to 74 MWh.

Adapture owns, operates, and has in construction 815 Mega Watts peak (MWp) of solar projects in twelve states across the United States. The company's expansion into battery storage, starting with these three grid-scale Distributed Generation Resource ("DGR") projects in Texas, represents the next step in its strategy of partnering with energy customers, developers, landowners and communities to accelerate the global energy transition.

"We are proud to mark the commercial operation of the first battery storage projects in our growing portfolio, part of our commitment to accelerating the global transition to clean energy," said Thomas Houghton, President and Chief Executive Officer of Adapture Renewables. "With these projects, Adapture Renewables is bringing its proven track record of success, strong financial backing and deep in-house expertise to the energy storage sector. We're pleased to be collaborating with leading partners like Ascend Analytics and Stella Energy Solutions, who share our vision for delivering and operating reliable clean energy projects."

"Adapture Renewables has a distinguished track record of advancing renewable projects and its expansion into battery storage marks an important step forward in its mission of accelerating the global transition to clean energy," said Gary Dorris, Chief Executive Officer of Ascend Analytics. "Driven by growing load and renewables' increasing contribution to the supply mix, ERCOT's evolving power market dynamics underscore the importance of battery storage in Texas and we are proud to partner with Adapture Renewables in driving these projects' performance and stabilizing contributions to the grid."

All three projects will use Ascend's SmartBidder to underpin the provision of energy and ancillary grid services through customized bid optimization and scheduling of the batteries' dispatches.

Adapture Renewables acquired all three BESS projects from Stella Energy Solutions, a leading utility-scale clean energy platform that builds energy storage and solar infrastructure. The two companies collaborated on the design and development of the facilities, with Stella Energy Solutions leading the construction activities.

Adapture Renewables | https://adapturerenewables.com/

Ascend Analytics | https://www.ascendanalytics.com/