Plus Power Raises $1.8 Billion for US Battery Projects (Correct)

Plus Power LLC raised $1.8 billion to build large battery complexes in Texas and Arizona aimed at shoring up US power grids.

The package includes $707 million for the 250-megawatt Sierra Estrella Energy Storage Facility west of Phoenix, the biggest-ever single-project financing, according to Plus Power Executive Chairman Brandon Keefe.

Three other lithium-ion projects with a combined 700 megawatts of capacity will be built in Texas, as well as 90-megawatt installation southeast of Phoenix.

Given the size of this financing round, “we really see this as the starting gun of the whole industry going forward,” Keefe said during ...