Equinor ventures into battery storage in the U.S.

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Equinor has signed an agreement to buy a 100% stake in the US based battery storage developer East Point Energy LLC. The acquisition supports Equinor’s ambition to be a leading company in the energy transition and provides a platform for broadening our energy offerings in the US.

The privately owned East Point Energy is headquartered in Charlottesville, Virginia and has a 4.1 GW current pipeline of early to mid-stage battery storage projects focused on the US East Coast. Additional growth potential beyond the current pipeline has been identified. “The acquisition of East Point Energy represents Equinor’s entry into the US power market through flexible assets. It will enable Equinor to further unlock the potential we see in the renewables space in the US,... ... More: Official Press Release Equinor

Keywords:

Equinor, USA, battery, storage, acquisition, East Point Energy, energy transition, platform, pipeline, power market, flexible asset