Ascend Analytics recently facilitated the successful sale of the 150-megawatt (MW) Salzburg battery energy storage system (BESS) in Michigan from ESA Solar Energy to the global renewable energy leader Ørsted. Acting as the exclusive advisor through its Ascend Energy Exchange (AEX™) platform, Ascend provided comprehensive services including asset valuation, financial modeling, and market outlooks to ensure a seamless transaction. The Salzburg project is a critical addition to Michigan’s energy infrastructure, strategically positioned to support the state’s ambitious goal of achieving 100% clean energy by 2040, with a targeted commercial operation date between 2029 and 2030.
The Salzburg BESS project is strategically located to help meet Michigan utilities’ offtake needs, and has progressed through key development milestones, including permitting and advancement in the interconnection process. The project is targeting a commercial operation date in 2029-2030.
Michigan is emerging as an important market for energy storage, as utilities and regulators advance clean energy goals and plan for anticipated load growth. As the state works toward a 60% renewable portfolio standard (RPS) target by 2035 and a 100% clean energy target by 2040, energy storage is expected to play an increasingly critical role in maintaining reliability and enabling higher renewable penetration.
“ESA has deep expertise in early-phase project development and its track record of partnering with tier one renewables and storage firms, like Ørsted, positions the Salzburg BESS project up to make substantial long-term contributions to Michigan’s clean capacity goals,” said Rahm Orenstein, Managing Director of the Ascend Energy Exchange. “Ascend is pleased to have provided the technical and transaction advisory services that helped bring this partnership together and set this project up for long term success.”
ESA is a seasoned renewable and storage development platform with deep experience in Michigan and the broader north MISO region, since 2017, and it maintains an ongoing local presence to provide post-close project development services.
“ESA has long focused on developing projects that combine strong fundamentals with permitting, and interconnection progress that means we actually can contribute to state and local energy needs in a timely manner,” said Lindsay Latre, Co-founder and CEO of ESA. “Ørsted is the ideal partner to steward the Salzburg project through the next stage of its development and we are pleased to partner with them as we help to meet Michigan’s energy and environmental goals.”
“Michigan is poised for significant growth in clean energy and electrification, and energy storage will be essential to maintaining reliability as renewables scale. Acquiring this energy storage project fits well within our strategic growth ambitions, adding to our development pipeline and strengthening Ørsted’s expanding U.S. storage portfolio with a strategically located asset,” said James Giamarino, Chief Commercial Officer, Ørsted Americas. “We appreciate ESA’s partnership and disciplined development work in bringing this project to a fully permitted status”
ascend ‘s AEX Asset Sales platform, a marketplace for renewable and storage projects, supports buyers and sellers with an objective and streamlined M&A process. AEX combines transaction execution with Ascend’s analytics capabilities, including proprietary market intelligence and valuation frameworks, to support diligence, risk assessment, and investment decision-making.
The Ascend Energy Exchange (AEX) is a digital marketplace that makes buying and selling renewable energy projects easier. It combines a simple transaction process with Ascend’s expert analytics to help users value assets and understand risks. This helps investors make quick, smart decisions and get deals closed faster.
Electrify your feed! 
