Eolus Advances Grid Reliability with Sale of Project Pome

Deal News | Mar 05, 2025 | CRC-IB

Eolus Advances Grid Reliability with Sale of Project Pome

CRC-IB, a notable advisory firm, recently advised Eolus, a prominent developer of renewable energy solutions, on the sale of Project Pome, a 100MW/400MWh standalone battery energy storage project in Poway, California. The project is still under construction and is expected to become operational in the first half of 2025. Acting as the exclusive sell-side advisor, CRC-IB played a crucial role in the transaction. Britta von Oesen, Partner & Senior Managing Director at CRC-IB, expressed satisfaction in contributing to California's grid reliability through this transaction. Eolus, which is known for innovative renewable energy investments across several regions, including the Nordics, Baltics, Poland, and the USA, continues to expand its portfolio with a focus on sustainable development.

Sectors

  • Renewable Energy
  • Energy Storage
  • Advisory Services

Geography

  • United States – The sale of the Project Pome, located in Poway, California, makes the United States a relevant geographical classification.
  • Sweden – Eolus, the company selling the project, is based in Sweden and has its share listed on Nasdaq Stockholm.

Industry

  • Renewable Energy – The article discusses the sale of a battery energy storage project, which is a key component of the renewable energy sector.
  • Energy Storage – Specific focus on the sale of a standalone energy storage project highlights the energy storage industry's importance in bolstering grid reliability.
  • Advisory Services – CRC-IB is providing sell-side advisory services in this transaction, an essential role in mergers and acquisitions within the energy sector.

Financials

    Participants

    NameRoleTypeDescription
    CRC-IBSell-side AdvisorCompanyAdvised Eolus on the sale of the energy storage project.
    EolusTarget CompanyCompanyA Swedish company involved in developing renewable energy projects and currently selling Project Pome.
    Britta von OesenPartner & Senior Managing DirectorPersonAn executive at CRC-IB, she expressed pride in contributing to the grid reliability effort.