Stem, regis energy partners, and excelsior energy capital announce $400m portfolio of energy storage projects in texas

San francisco--( business wire )--stem, inc. (nyse: stem), a global leader in ai-driven clean energy solutions and services, today announced four 9.9 megawatts (mw) standalone energy storage projects in texas with rex storage holdings, llc (rex), an independent power producer focused on standalone battery energy storage systems (bess) for ercot power customers. rex is a joint venture between regis energy partners lp, an independent developer, owner, and operator of energy storage systems, and excelsior energy capital (eec), a leading investment fund focused on renewable power generation. the projects represent the first of a $400m equity commitment by rex to acquire additional construction-ready projects from regis' development pipeline within the electric reliability council of texas (ercot)'s territory, power supplier to more than 26 million customers representing approximately 90 percent of the state's electric load.
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