Key Capture Energy Completes Construction and ITC Transfer for 200MW of Battery Energy Storage in Texas

Key Capture Energy, LLC (“KCE”), a leading developer, owner, and operator of battery energy storage systems (BESS) in the United States, announced the commercial operations of two 100MW projects in Texas and the transfer of the investment tax credits (ITCs) for both projects to a third party. This marks KCE’s second ITC transfer transaction under the Inflation Reduction Act and brings its battery energy storage operating fleet to over 620MW across the U.S.

“Key Capture Energy continues to lead the industry, and this second ITC transfer is an important milestone for the company,” said Brian Hayes, Key Capture Energy’s Chief Executive Officer. “By collaborating with our utility partners and leveraging financial tools like the ITC, we’re looking forward to bringing more battery energy storage online to support a reliable and resilient electric grid in markets nationwide.”

The two new standalone projects operate within the Electric Reliability Council of Texas (ERCOT) market, helping to balance high levels of intermittent energy in Texas and mitigate grid fluctuations, particularly during peak demand periods. Located in Denton and Grimes counties, both projects qualified for the 10 percent Energy Community Tax Credit bonus available under the Inflation Reduction Act.

The ITC transfers will enable KCE to invest in its development portfolio across the country. KCE is one of the most experienced battery energy storage operators in the ITC transfer market, having completed its first transaction in December 2023.

CRC-IB served as the financial advisor to KCE and KCE was represented by Clifford Chance US LLP. TReK served as the financial advisor to the buyer and the buyer was represented by Akin LLP.

Key Capture Energy | keycaptureenergy.com