A giant rechargeable battery for Boston's grid just lined up its $850 million

A battery makes no electricity of its own — it saves power for later, charging when supply is plentiful and releasing it when everyone gets home and switches things on. Flatiron Energy has now closed about $850 million in construction and long-term financing for Energizar, a battery plant in Chelsea, Massachusetts, that will store 1,200 megawatt-hours of electricity — enough, at full discharge, to matter at city scale. When it switches on in late 2027, it is set to be the largest battery storage site on the US East Coast and one of the largest inside a city anywhere in the world, on hand to cover peak demand and shortfalls for the communities that rely on the Boston grid. The package brings together a consortium of banks, preferred equity and a tax-credit transfer — which means the money side is done, and building can proceed.

SDG 7 · Affordable and clean energy — Mechanism: funding & finance