Frontier Power USA (FPUSA), a company focused on long-duration energy storage development and investment, announced that it has entered into an agreement to acquire a 480 MWh portfolio of battery energy storage system projects from Bimergen Energy Corporation. The acquisition, made through FPUSA and its affiliates, marks a significant milestone in the company’s growth as it expands its presence in the U.S. storage sector.
The portfolio includes three projects located within the ERCOT market in Texas. Among these are two “Texas 10” projects, as well as a standalone 100 MW / 400 MWh facility. All three are expected to achieve Notices-to-Proceed in the middle of 2026. Subject to the satisfaction of closing conditions, this transaction will be the first completed under FPUSA’s exclusive development pipeline and will represent the initial deployment supported by FPUSA’s 2 GWh capacity reservation agreement with Eos Energy Enterprises, Inc.
Under the terms of the agreement, once the acquisition is finalized, an affiliate of FPUSA will provide all required construction equity, pay a development fee to Bimergen and cover transaction-related costs. After initial capitalization, the project companies are expected to be contributed into FPUSA. At that point, FPUSA will hold a 92.5% ownership stake in the project entities, while Bimergen will retain a 7.5% economic interest that reflects its role in originating and developing the projects.
FPUSA and Bimergen will work together to advance the assets to commercial operation.All projects will be built using Eos’ U.S.-manufactured Z3 long-duration battery systems. This aligns with FPUSA’s earlier capacity reservation agreement with Eos, which provides FPUSA with dedicated manufacturing access and improves deployment certainty across its broader pipeline of late-stage storage opportunities.
To support financing and enhance the bankability of the assets, FPUSA plans to implement its Technology Performance Insurance framework, arranged with Ariel Green. This structure is designed to improve investor confidence by providing an added layer of performance assurance, enabling access to long-term institutional capital for both construction and operations.In addition to working closely with Bimergen, FPUSA is collaborating with Stella Energy Solutions as its execution partner for project development and delivery.
Several legal partners are involved in the transaction as well. Simpson Thacher & Bartlett LLP and Jackson Walker LLP are advising Cerberus Capital Management, the owner of FPUSA, while Norton Rose Fulbright LLP is serving as legal counsel to Bimergen.Aaron Maczonis, Managing Director at Cerberus Capital Management, commented that the transaction reflects the core strategy behind FPUSA—bringing together development capabilities, committed manufacturing capacity, institutional capital and performance insurance to create a pipeline of storage assets that can move quickly into construction.
He noted that the ERCOT region continues to see strong load growth, underscoring the need for long-duration storage that can be delivered efficiently and at scale. According to Maczonis, these projects represent an important early step in executing on that opportunity.
Cole Johnson, Co-Chief Executive Officer of Bimergen Energy Corporation, stated that the company is pleased to collaborate with FPUSA on a transaction that demonstrates Bimergen’s ability to originate, develop and transition high-quality storage projects while remaining involved in their long-term performance. He said this model enables Bimergen to continue expanding its development platform and contributes to the delivery of essential energy infrastructure in key U.S. markets.
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