Eos Energy Shares Rise 12% Following West Virginia Solar and Storage Project Announcement

Eos Energy Enterprises (NASDAQ:EOSE) shares rose 12% on Wednesday following the announcement of a collaboration with MN8 Energy and Google for a solar and energy storage project in West Virginia.

The project will combine 86 MW of utility-scale solar generation with 10 MW/100 MWh of Eos’ Z3 zinc-based long-duration energy storage and 70 MW/280 MWh of lithium-ion battery storage.

The combined project is intended to provide dispatchable capacity to the PJM electricity grid and support Google’s data centres in the region, including a planned facility in West Virginia.

Google to Purchase Energy and Capacity From Project

The solar component is expected to begin commercial operations in 2028, according to the supplied information.

The lithium-ion storage component is scheduled to follow in 2029, with Eos’ long-duration storage system expected to become operational in 2030. These dates represent current project expectations and remain subject to development and construction progress.

Google will purchase the project’s energy, capacity and clean-energy attributes.

The development will represent Google’s first deployment of Eos’ U.S.-manufactured Z3 technology and the first project undertaken under the previously announced master supply agreement between MN8 Energy and Eos.

Eos Z3 System Designed to Provide 10 Hours of Storage

Eos will provide a 10 MW/100 MWh Z3 energy storage system for the development.

The zinc-based system is designed to deliver 10 hours of energy storage, allowing electricity generated by the solar installation to be available beyond the period of direct solar production.

The supplied information does not provide the financial value of Eos’ portion of the project or specify the revenue the company expects to recognise from the deployment.

MN8 Energy to Own and Operate Mammoth Solar

MN8 Energy will own and operate the Mammoth Solar project in Kanawha County, West Virginia. The development is being constructed on a reclaimed coal mine.

The project represents up to $350 million of capital investment, according to the supplied information.

It is expected to generate approximately $4 million in property tax revenue for Kanawha County and local schools during its first 20 years of operation. Construction is also expected to create approximately 200 jobs.

These investment, tax and employment figures represent current project estimates and may depend on the development proceeding according to plan.

Project Expands Deployment of Eos Storage Technology

Eos Energy Enterprises manufactures zinc-based long-duration energy storage systems in the United States, with its headquarters and manufacturing operations located in Pittsburgh, Pennsylvania.

The West Virginia development represents an additional planned deployment of the company’s Z3 technology alongside solar and lithium-ion storage within a single project.

Eos shares rose 12% during Wednesday’s session following the announcement, although the supplied information does not establish the extent to which the project agreement was responsible for the share-price movement.

Eos Energy Enterprises stock price