Overview
- FPUSA announced a signed transaction with Bimergen to acquire a 480 MWh portfolio of three ERCOT battery projects, a deal first reported on Thursday, May 21, 2026.
- The portfolio includes two 10 MW “Texas 10” projects and a 100 MW / 400 MWh site for which notices‑to‑proceed are expected in mid‑2026.
- Under the deal an FPUSA affiliate will fund 100% of construction equity and, after contribution, FPUSA will hold a 92.5% ownership stake while Bimergen retains a 7.5% economic interest.
- Projects will use Eos Energy Enterprises’ American‑made Z3 long‑duration battery systems under FPUSA’s 2 GWh capacity reservation to reduce delivery risk for late‑stage assets.
- FPUSA plans to employ a Technology Performance Insurance (TPI) structure arranged with Ariel Green to transfer performance risk and help attract long‑term institutional financing, with Stella Energy Solutions and named legal advisers lined up for execution.