News Synopsis
Frontier Power USA, a United States long-duration energy storage development and investment platform, has selected Bimergen Energy Corporation's Wildfire BESS project for conversion onto its platform. The 100 MW/400 MWh battery energy storage project is located in Caldwell County, Texas. Bimergen is a United States renewable energy developer, asset owner and independent power provider focused on utility-scale battery storage and solar projects.
The project was selected under the companies' existing strategic framework and is expected to use Eos Energy Enterprises' Z3 long-duration batteries. Closing remains contingent on the negotiation and execution of definitive documentation and the successful closing of Eos's recently announced rights offering. The transaction is expected to use economic terms consistent with the previously completed Bimergen portfolio transaction.
Wildfire follows FPUSA's completed conversion of a 480 MWh portfolio of ERCOT-based Bimergen projects and its selection of four Stella Energy Solutions projects totaling approximately 230 MW/920 MWh. The earlier Bimergen portfolio included two Texas 10 projects and the 100 MW/400 MWh Redbird project. The Stella portfolio comprises the Blanquilla, Aransas Pass, Nash and Wallis projects, which are also expected to use Eos Z3 batteries.
Including Wildfire, FPUSA has closed or selected projects representing approximately 1.8 GWh of battery storage capacity. This total equals approximately 90% of its 2 GWh capacity reservation agreement with Eos. FPUSA's project portfolio is focused on assets targeting notice-to-proceed milestones during 2026 and early 2027, while the company also has visibility on approximately 4 GWh of near-term opportunities across multiple markets.
FPUSA's equity capital base is anchored by funds and accounts managed by Cerberus Capital Management. Hudson Bay Capital has made a conditional $50 million direct equity commitment to FPUSA as part of a broader $125 million commitment, with the remaining $75 million comprising an investment in Eos to support Eos's investment in FPUSA. KKR Capital Markets LLC is supporting the structuring of long-term project financing, including construction, tax credit-related and long-term project finance arrangements.
Aaron Maczonis, Managing Director at Cerberus Capital Management, said the selection brought FPUSA's closed and selected portfolio to approximately 1.8 GWh under the Eos reservation agreement. Cole Johnson, Co-CEO of Bimergen Energy, described Wildfire as the second transaction under the Bimergen-FPUSA framework and said the parties intended to complete documentation and move the project toward construction.