Perfect Power LLC Commences Construction of 300 MW / 680 MWh Energy Storage System in McLennan County, Texas

Jaguar battery energy storage system set to be the one of the largest energy storage projects in Texas supporting the state’s growing electricity demand

MCLENNAN COUNTY, TEXAS – (January 10, 2024) – Perfect Power, LLC, a leading developer of clean power assets formed by SER Capital Partners, today announced it has closed financing and commenced construction on its Jaguar Battery Energy Storage System (Jaguar BESS) in Waco, Texas. Jaguar BESS will provide critical electricity storage services to Texas customers while strengthening the state’s energy infrastructure with more reliable and sustainable electricity resources in McLellan County. "As Texas’s economy continues to grow and require additional power generation resources, battery energy storage systems are playing an increasingly critical role to maintain grid stability and reliability," said Anthony Maselli, Chief Executive Officer of Perfect Power. "We are proud of our team’s efforts to bring one of the largest battery energy storage systems in Texas online in 2025 to meet customer demand. ” Jaguar BESS consists of two 150 MW / 340 MWh energy storage facilities expected to begin operations in 2025. By storing electricity to deliver at peak demand periods, Jaguar BESS will be capable of delivering up to 680 MWHs of electricity, enough to power the equivalent of 100,000 homes without any direct operating emissions and while further offsetting 34,000 tons of carbon dioxide annually, the equivalent of emissions from approximately 8,000 cars each year. Perfect Power secured over $270 million in construction and term financing facilities. Financing for the Jaguar BESS project was arranged by Mitsubishi UFJ Financial Group (MUFG).

About Perfect Power LLC

Perfect Power, a portfolio company of private equity firm SER Capital Partners, focuses on investment opportunities in the transitioning electric grid. With expertise in power generation, renewable energy, and energy storage, Perfect Power specializes in asset development / redevelopment and asset optimization. Perfect Power actively partners with local developers, asset owners, and operators as part of its development strategy.

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