Eolian
Eolian, L.P. is a Burlingame, California-based developer and operator of utility-scale battery energy storage projects across the US, serving electric utilities (CPS Energy, PGE, Dominion Energy) and increasingly data center operators (CyrusOne) through long-term capacity agreements, merchant market participation, and co-located infrastructure.
- Company typePrivate
- Founded2020
- HeadquartersBurlingame, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Eolian does
Eolian, L.P. is a Burlingame, California-based utility-scale battery energy storage system (BESS) developer and operator, tracing its origins to a renewable energy investment practice founded in 2005 and formally spun out of MAP Energy in December 2020 with capitalization from Global Infrastructure Partners (GIP, now part of BlackRock). The company owns and operates a fleet of utility-scale battery storage projects—predominantly built with Tesla Megapack lithium-ion equipment—and has deployed more than 300 MW of BESS in ERCOT with over four years of operating experience, plus a recently commissioned 475 MW Oregon portfolio for Portland General Electric. Core products include the Padua Complex in Bexar County, Texas (400 MW / 1.8 GWh, the largest BESS in Texas upon 2026 completion), Chisholm Grid (100 MW, Fort Worth), Seaside and Sundial Grids (400 MW combined, Oregon), Pediment BESS (250 MW, Arizona), and the proposed Monarch Grid (600 MW, Illinois).
Eolian generates revenue through multiple streams: (1) merchant participation in wholesale electricity markets (ERCOT, PJM) and contracted capacity agreements with utilities under long-term PPAs and storage capacity contracts (e.g., CPS Energy, PGE, Dominion Energy, SRP); (2) development fees from origination, permitting, interconnection, and construction management, often followed by project sale to third-party operators such as Aypa Power and Swift Current Energy; (3) asset ownership and operation of its retained BESS fleet using in-house optimization and proprietary power trading software; and (4) infrastructure-sharing monetization, exemplified by its CyrusOne partnership to co-locate a 200 MW data center campus (DFW7) at its Chisholm Grid site. The company sells directly to enterprise utility and data center customers under negotiated, project-specific agreements, with go-to-market centered on identifying constrained grid locations years in advance and structuring bespoke financing (over $2.4B in cumulative project-level debt since 2021) backed by employee ownership alongside GIP-managed funds.
Eolian firmographics
Firmographics- Name
- Eolian
- Legal name
- Eolian, L.P.
- Website
- https://eolianenergy.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Eolian, L.P. is a Burlingame, California-based developer and operator of utility-scale battery energy storage projects across the US, serving electric utilities (CPS Energy, PGE, Dominion Energy) and increasingly data center operators (CyrusOne) through long-term capacity agreements, merchant market participation, and co-located infrastructure.
- Ownership category
- akta.pro rank
Eolian industry classification
Industry- Product category
- Utility-Scale Battery Energy Storage
- NAICS
- Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111)
- SIC
- Electric Services (4911), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)
- akta.pro secondary industries
- BESS Operations, Maintenance & Asset Performance Management (APM) (EUAFAAAG), BESS O&M and Lifecycle Services (Warranty, Spares, Monitoring) (EUAEAEAM), Energy Storage & Microgrid Electrical Infrastructure (BESS, Controls) (IMAFAHAE), Utility-Scale BESS EPC & Integration (EUAEAEAA)
Keywords
Where Eolian is headquartered
LocationHeadquarters
- HQ city
- Burlingame
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Eolian business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Battery Energy Storage Asset Ownership & Operation: Eolian owns and operates utility-scale battery energy storage projects, generating revenue through merchant participation in wholesale electricity markets (ERCOT, PJM) and contracted capacity agreements with utilities. The company has deployed over 300 MW of BESS in ERCOT and developed projects across multiple US markets.
- Project Development & Development Fees: Eolian develops energy storage, solar, and wind projects, creating value through development, permitting, interconnection, and construction management. Projects may be sold to operators or retained in the portfolio.
- Acquisition of Development Portfolios: Eolian acquires remaining interests in development portfolios (e.g., Able Grid Energy Solutions), expanding its development pipeline and project pipeline across US markets.
- Infrastructure Sharing / Grid Connection Monetization: Eolian monetizes idle grid connections during system upgrades by temporarily lending site infrastructure to data center developers (e.g., CyrusOne), providing revenue while batteries are offline for renovation.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Eolian product offering
Product offeringCore offering
Eolian develops, finances, owns, and operates utility-scale battery energy storage systems (BESS) across the United States, primarily using Tesla Megapack equipment. The company sells storage capacity to utilities under long-term capacity agreements and build-transfer agreements, participates in wholesale electricity markets (ERCOT, PJM) as a merchant operator, and partners with data center developers on co-located generation+load projects.
Product overview
Eolian is a battery energy storage developer and operator that manages a growing portfolio of utility-scale BESS projects across the United States. The company's core product is its battery energy storage systems (BESS), which provide grid services including frequency regulation, energy arbitrage, and capacity services. Key projects include the Padua Complex (400 MW/1.8 GWh in Texas, the largest in the state), Chisholm Grid (100 MW in Fort Worth), Seaside and Sundial Grids (400 MW combined in Oregon), and the Monarch Grid (proposed 600 MW in Illinois). Eolian also offers co-located infrastructure services, exemplified by the DFW7 data center campus partnership with CyrusOne in Fort Worth. The company develops, constructs, and operates its BESS fleet using in-house asset and optimization teams, with projects utilizing Tesla Megapack equipment. Eolian operates across ERCOT, PJM, and western U.S. grid markets, financing development through green loans and structured financing arrangements.
Differentiator
Problem solved
Functional benefit
Brands
- Astral Electricity: Subsidiary of Eolian operating as an energy storage power producer, building and operating utility-scale battery energy storage projects including Chisholm Grid and other ERCOT battery systems.
Products and services
- Padua Complex A 400 MW / 1.8 GWh utility-scale battery energy storage complex in Bexar County, Texas, strategically sited adjacent to retiring J.K. Spruce coal and V.H. Braunig natural gas plants. Uses Tesla Megapack equipment and serves CPS Energy under storage capacity agreements.
- Chisholm Grid A 100 MW / 125 MWh battery energy storage system in Fort Worth, Texas, one of Texas' first utility-scale BESS systems. Co-located with CyrusOne's DFW7 data center campus leveraging existing high-voltage transmission infrastructure.
- Seaside Grid A 200 MW battery energy storage system located in North Portland, Oregon, delivered to Portland General Electric under a Build-Transfer Agreement. Provides grid reliability and ancillary services in the Pacific Northwest.
- Sundial Grid A 200 MW battery energy storage system located in Troutdale, Oregon, developed by Eolian and operated by NextEra Energy Resources under a 20-year storage capacity agreement with PGE.
- DFW7 Data Center Campus A 200 MW hyperscale data center campus in Fort Worth, Texas, co-located at Eolian's Chisholm Grid BESS site and developed in partnership with CyrusOne. Leverages existing high-voltage transmission infrastructure to accelerate data center deployment by 1-2 years.
- Flint Grid BESS A battery energy storage project in New Albany, Ohio, part of Eolian's portfolio of utility-scale BESS projects.
- Silverstrand Grid BESS A battery energy storage project in Camarillo, California, part of Eolian's portfolio of utility-scale BESS projects in the western U.S.
- Monarch Grid A proposed 600 MW battery energy storage facility on approximately 52 acres in Prairie Grove, McHenry County, Illinois, using lithium iron phosphate batteries.
- Prospect Power Storage A 150 MW / 600 MWh battery energy storage project in Rockingham County, Virginia, contracted to Dominion Energy Virginia under a 15-year power purchase agreement and developed through the Clean Planet Renewable Energy JV (Eolian and Open Road).
- Pediment BESS A 250 MW / 1,000 MWh battery energy storage system in Mesa, Arizona, contracted to Salt River Project. Originally developed by Eolian and acquired by Aypa Power.
Quantifiable outcome
- 400 MW / 1.8 GWh capacity deployed at Padua Complex, largest BESS in Texas
- +4 more outcomes
Companies that use Eolian
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles4 records
Eolian technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Eolian partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered flagship, core and minor.
- CyrusOneflagshipCyrusOne partnered with Eolian to co-locate a 200 MW data center campus (DFW7) at Eolian's Chisholm Grid BESS site in Fort Worth, Texas. Partnership enables CyrusOne to deploy data center capacity 1-2 years earlier by leveraging existing high-voltage transmission infrastructure.
- TeslacoreTesla supplies Megapack battery energy storage equipment for Eolian's projects including the Padua Complex (350 MW/1.7 GWh). Tesla's Megapack systems are a key component of Eolian's battery storage deployments, with Padua being one of Tesla's largest global Megapack deployments.
- CPS EnergyflagshipCPS Energy, the nation's largest municipal utility, has contracted with Eolian for Padua 1 (50 MW) and additional battery storage capacity (350 MW). Partnership includes community benefits agreements with contributions to CPS Energy-sponsored activities and scholarships.
- Swift Current EnergyminorSwift Current Energy acquired Prospect Power from the Clean Planet Renewable Energy JV (Open Road/Eolian) in 2023 and secured $242M financing to build the project contracted with Dominion Energy.
- Portland General Electric (PGE)flagshipEolian developed and delivered 475 MW of battery storage to PGE through multiple projects including Seaside Grid (200 MW, build-transfer) and Sundial Grid (200 MW, storage capacity agreement). Projects are operational and part of PGE's strategy for grid reliability.
- MortensonminorMortenson served as balance of plant (BOP) and battery installation contractor for Chisholm Grid BESS (100 MW) and has been involved in Eolian's early energy storage projects.
- Aypa PowercoreAypa Power acquired the Pediment battery storage project from Eolian as part of contracted projects with Salt River Project in Arizona. Eolian developed and then sold the project to Aypa Power for SRP.
- Open Road Renewable EnergycoreEolian had a joint venture with Open Road Renewable Energy for development of Prospect Power (150 MW/600 MWh) in Virginia. The JV project was sold to Swift Current Energy in 2023, which then secured financing and contracted the project to Dominion Energy.
- Able Grid Energy SolutionscoreEolian acquired all remaining interests in Able Grid's development portfolios of energy storage projects, which included over 10 GW of energy storage assets across multiple US markets. Able Grid had been a development partner since 2017.
Scale indicators13 records
Recent moves6 records
Expansion highlights5 records
Eolian competitors and assessment
Company assessmentBroad incumbents
- NextEra Energy Resources: Largest US renewable energy generator and a subsidiary of NextEra Energy (NYSE: NEE). Operates Eolian-developed Sundial Grid (200 MW) under a 20-year storage capacity agreement with PGE. Direct overlap as a utility-scale storage developer and operator, though NextEra is dramatically larger and vertically integrated.
- Invenergy: Large privately-held independent power producer developing, owning, and operating renewable and storage projects globally. Eolian COO Gene Settoon previously held senior roles at Invenergy. Overlaps with Eolian's utility-scale BESS development but covers broader generation portfolio.
- Fluence: Global leader in battery energy storage products, services, and project development. Public company (NASDAQ: FLNC) that both supplies BESS equipment (competing with Tesla) and develops projects, partially overlapping with Eolian's vertically integrated model but at much larger scale.
- AES Corporation: Global Fortune 500 utility and independent power producer with major US renewable and storage development. CEO Aaron Zubaty previously worked at AES in business development and finance roles. Direct overlap on utility-scale BESS development but at much larger scale and with broader generation portfolio.
Emerging players
- Form Energy: Developer of long-duration battery storage technology (100+ hour systems) backed by major investors. Overlaps with Eolian's focus on grid-scale storage but differentiates by targeting longer duration use cases versus Eolian's 4-5 hour utility-scale focus.
Regional players
- Wärtsilä Energy Storage: Supplied BESS equipment for Eolian's Madero and Ignacio 200 MW facilities in South Texas (largest merchant battery system at the time in 2023). Major BESS integrator with global footprint that also offers project development and lifecycle services, competing with Eolian on integration.
Direct peers
- Swift Current Energy: Independent power producer focused on US renewable energy and storage development. Acquired the Prospect Power BESS project from Eolian's JV with Open Road Renewable Energy in 2023. Direct peer in developing utility-scale storage projects for utility off-takers like Dominion Energy.
- Aypa Power: Utility-scale battery energy storage developer that has acquired Eolian-developed projects (Pediment BESS 250 MW/1,000 MWh for SRP). Operates in the same US BESS development market with similar project sizes, utility off-takers, and project finance structures.
- Plus Power: Independent developer of utility-scale battery energy storage projects across North America. Closest direct competitor to Eolian in developing standalone BESS projects for utility off-takers and merchant markets, with similar customer profile (utilities, grid operators) and project economics.
- Able Grid Energy Solutions: Utility-scale battery energy storage developer whose remaining development interests were acquired by Eolian in December 2021. Was a direct peer and JV partner managing over 10 GW of US storage development, with overlapping target markets and customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Eolian social profiles
Digital presenceEolian financial estimates
Financial estimateRevenue estimate
Valuation estimate
Eolian leadership team
Management profileNumber of profiles
Profiles7 records
Eolian subsidiaries and ownership
Company hierarchySubsidiaries2 records
Eolian funding detail
Funding detailFunding overview
Funding rounds5 records
Investors11 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Eolian M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Eolian
What does Eolian do?
Eolian develops, finances, owns, and operates utility-scale battery energy storage systems (BESS) across the United States, primarily using Tesla Megapack equipment. The company sells storage capacity to utilities under long-term capacity agreements and build-transfer agreements, participates in wholesale electricity markets (ERCOT, PJM) as a merchant operator, and partners with data center developers on co-located generation+load projects.
Is Eolian a public or private company?
Eolian is a private company. It is classified as private equity controlled and is currently operating.
When was Eolian founded?
Eolian was founded in 2020. It employs 51 to 100 people.
Where is Eolian based?
Eolian is headquartered in Burlingame, United States, in the North America region.
How does Eolian make money?
Four revenue lines are on record. Battery Energy Storage Asset Ownership & Operation is the primary driver. The others are project Development & Development Fees, acquisition of Development Portfolios and infrastructure Sharing / Grid Connection Monetization.
Who are Eolian's main competitors?
Broad incumbents on record are NextEra Energy Resources, Invenergy, Fluence and AES Corporation. Form Energy is listed as an emerging player. Wärtsilä Energy Storage is listed as a regional player. Direct peers are Swift Current Energy, Aypa Power, Plus Power and Able Grid Energy Solutions.
Does Eolian have an API?
No public API is recorded for Eolian.
What industry is Eolian in?
Eolian's product category is Utility-Scale Battery Energy Storage. Its primary akta.pro industry code is EUAFAAAA, Utility-Scale BESS Project Development & Ownership (IPP/Developer), with a secondary code of EUAFAAAG, BESS Operations, Maintenance & Asset Performance Management (APM). Its NAICS code is 2211 and its SIC code is 4911.