Overview
- Elevate acquired the 150 MW/600 MWh Prospect Power Storage project from Swift Current Energy, confirming it as the largest standalone battery asset in PJM.
- Located in Rockingham County near Northern Virginia’s data center cluster, the installation is under construction and slated to begin commercial operations in mid-2026.
- The project is fully contracted under a 15-year power purchase agreement with Dominion Energy Virginia, providing long-term revenue certainty.
- Swift Current secured debt and tax equity financing and is managing construction to keep the project on schedule for 2026 commissioning.
- Elevate frames the deal as part of a broader storage buildout for grid flexibility, highlighting a co-location strategy and prior projects such as the 15 MW/60 MWh Arthur Kill installation in New York City.