TEPCO To Acquire 50% Stake In Ohio Battery Storage Project
May 24,2017
RES Energy Storage Holdings, LLC, the direct upstream owner of Battery Utility of Ohio, LLC (BUO), has sought FERC approval for a transaction under which it will sell 50% of the membership interests in BUO to a to-be-formed, wholly owned subsidiary of Tokyo Electric Power Company Holdings, Incorporated (TEPCO)
Battery Utility of Ohio owns and operates a 4 MW (nameplate) energy storage project and limited interconnection facilities that are interconnected to a 34.5 kV line owned by AEP Ohio
Currently, 100% of Battery Utility of Ohio is owned by RES Energy Storage Holdings, which is ultimately a unit of Renewable Energy Systems Americas Inc., which itself is ultimately a unit of Renewable Energy Systems Holdings, Limited