Under the new joint venture — funded 60% by SK and 40% by Apex — the latter will oversee the construction and operations of the Great Kiskadee project, as well as future energy storage projects it will own.
By combining the relative strengths of both companies, Apex Clean Energy expects to be able to develop and deploy more energy storage projects than either company could alone, Strumlauf said.
The Great Kiskadee storage project in Hidalgo, Texas, is a 100 MW/200 MWh facility that is expected to come online this year and deliver capacity to the Electric Reliability Council of Texas grid. The project is estimated to lead to around 50 construction jobs, and more than $12.6 million in tax revenue over its lifetime, according to Apex.
