Black Mountain Seeks Buyers for $300 Million Battery Power Unit

Black Mountain, a privately-held energy and natural resources company, wants to sell its division for power-storage projects amid soaring demand for battery installations used to help stabilize electricity grids.

Austin-based Black Mountain Energy Storage has a pipeline of 32 projects projected to produce 6.4 gigawatts of battery power when completed, according to a marketing document seen by Bloomberg. The projects are being built mostly in Texas, but also include some sites in the Midwest and East Coast.

The asset may fetch around $300 million, a person familiar with the matter said.

A spokesman for Black Mountain declined to comment. ...