Largest Standalone Battery Storage Project in the PJM Interconnection

Elevate Renewables ("Elevate"), an ArcLight portfolio company and leading developer, owner and operator of energy storage and hybrid generation assets, today announced the acquisition of Prospect Power Storage (“Prospect Power”), the largest standalone battery storage asset in the PJM Interconnection, from Swift Current Energy. The 150 MW/600 MWh project, located in Rockingham County near Northern Virginia’s “Data Center Alley,” is currently under construction and scheduled to begin operations in mid-2026.

Prospect Power is fully contracted under a 15-year power purchase agreement with Dominion Energy Virginia, positioning the project as an essential energy resource to ensure cost-effective grid reliability and meet the rapidly growing demand for power across the Mid-Atlantic region.

“The acquisition of Prospect Power underscores our commitment to building the energy infrastructure required to ensure continuous power for data centers,” said Joshua Rogol, Chief Executive Officer of Elevate. “With its scale and strategic location within PJM, this project exemplifies the critical investments we are making to support the increased need for grid reliability and sustainability driven by growing power demand.”

Prospect Power continues Elevate’s strategy of partnering with premier energy developers and stakeholders to scale battery storage and deliver reliable, flexible power across PJM and other high-growth U.S. power markets. In 2024, Elevate announced a 15 MW/60 MWh battery storage infrastructure project at the Arthur Kill Power Station in Staten Island, NY, which will be the largest battery storage installation in New York City upon completion.

“PJM is experiencing accelerating demand driven by AI, data center growth, and electrification,” Rogol added. “Prospect Power will provide the fast-responding, flexible capacity needed to manage peak loads and improve overall grid performance.”

About Elevate

Elevate is at the forefront of the energy transition, strategically deploying utility-scale battery storage to address the critical need for energy as electrification accelerates. The Company delivers reliable, flexible, and efficient energy storage solutions that support digital and data center expansion, grid resilience, and the digital transition. Elevate is a portfolio company of ArcLight, a leading infrastructure investor. For more information, visit www.elevaterenewables.com.

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