The North American Energy Markets Association is pleased to announce this Request for Bids for our member Evolution Markets and their client Nightpeak Energy.
Evolution Markets, on behalf of Nightpeak Energy (https://nightpeak.energy/), is pleased to offer potential buyers physical tolling rights for up to 150 Mw of utility scale battery attributes from Bocanova Battery, a 300 Mw battery facility located in the ERCOT Houston Zone. The Bocanova facility is located in Brazoria County, and is interconnected to Texas-New Mexico Power (TNMP, a regulated utility affiliate of PNM Resources).
The Bocanova Battery project will have a commercial operation date of mid 2025. All major equipment, including transformer and batteries, have been ordered.
Interested parties in a physical tolling agreement for the battery’s project’s output (100% rights to Ancillary Services and Electricity) should meet two criteria items:
1) Evidence of an Investment Grade rating of transactional entity, or parent guarantor
1. Rating agency reference: BBB- or Above (S&P), Baa3 or Above (Moody’s)
2. Unrated or non-investment grade participants can seek third party guarantees (ex: rated insurers), or Cash/Letter of Credit posting
2) Execution ability for utility scale battery attributes, and management signoff to execute a intermediate to long term utility scale battery tolling agreement for minimum of 5 (five) years, commencing mid 2025.
If your firm meets the two criteria above, and is interested in additional information about the Bocanova Battery Project, please contact Brian Beebe of Evolution Markets at structured@evomarkets.com or 713-591-0821.
Find Evolution Markets Invitation to Bid here: NAEMANightpeakBocanovaBattery