Eolian

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.

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

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

• Battery energy storage
• Utility-scale energy storage
• Grid-scale battery systems
• Renewable energy development
• Energy storage operator

Headquarters

HQ city

Burlingame

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. 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.
2. 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.
3. 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.
4. 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

Core 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

Named customers5 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered flagship, core and minor.

• CyrusOneflagshipStrategic or Co-development Partner · 13 January 2026CyrusOne 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.
• TeslacoreTechnology or Integration · 9 October 2025Tesla 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 EnergyflagshipStrategic or Co-development Partner · 30 September 2025CPS 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 EnergyminorStrategic or Co-development Partner · 4 September 2025Swift 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)flagshipStrategic or Co-development Partner · 7 August 2025Eolian 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.
• MortensonminorImplementation/ SI/ Consulting Partner · 1 January 2025Mortenson 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 PowercoreStrategic or Co-development Partner · 1 January 2024Aypa 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 EnergycoreStrategic or Co-development Partner · 1 January 2023Eolian 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 SolutionscoreStrategic or Co-development Partner · 23 December 2021Eolian 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

Broad 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

• YouTubeyoutube.com/@EolianEnergy
• LinkedInlinkedin.com/company/eolianenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds5 records

Investors11 records

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M&A1 record

Investments

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Frequently asked questions about Eolian