Partnership Between NH Based Energy Solutions Developer Granite Source Power & Great Bay Renewables to Tackle Grid and Energy Needs

Granite Source Power and Great Bay Renewables Announce Partnership to Address Growing Energy Demand and Grid Reliability Needs

Granite Source Power ("GSP") and Great Bay Renewables ("Great Bay") are pleased to announce a new strategic partnership focused on tackling the rapidly growing demand for reliable energy and the evolving needs of the power grid. Together, the companies aim to accelerate the development of battery storage and energy generation projects across key U.S. markets.

Formed in 2022, GSP has closed on approximately 2,000 MW of project sales and built a robust pipeline of battery storage and energy generation projects across ERCOT, PJM, NYISO, ISONE, and SPP. This partnership will utilize Great Bay's energy finance and interconnection security expertise to help GSP progress its siting, development, interconnection, and commercialization activities.

As demand from data centers and other loads rises, the energy market has become more complex. In response, GSP has developed and implemented innovative strategies to accelerate project timelines and cost-effectively deliver vital infrastructure. Working alongside utilities and high-demand customers, GSP offers rapidly deployable energy and capacity solutions. Through this new partnership with Great Bay, GSP is in a strong position to expand its services and create more opportunities for utilities, large-load clients, and generation owners.

"This partnership represents a significant step forward in advancing our vision to collaboratively address the grid reliability and energy demand challenges facing our markets," said Marc Rizzo, one of the co-founders of Granite Source Power. "By pairing our team's development capabilities and unique siting strategy with Great Bay's creative financing approach, we're able to advance and deliver projects that bring real, sustainable impact to communities and utilities while unlocking value for our customers."

Commenting on the new partnership with GSP, Frank Getman, CEO of Great Bay, said, "Granite Source Power has built an exceptional platform at exactly the right moment, led by a stellar team. Battery storage and electricity generation are critical to meeting America's exploding power demand from AI, datacenters, and industrial growth. Great Bay's innovative financing offerings remove financial bottlenecks, enabling GSP to scale rapidly and deliver the infrastructure our grid desperately needs."

About Granite Source Power

Granite Source Power develops battery energy storage and electricity generation projects. GSP's mission is to develop high quality projects that deliver long term shared value for landowners, communities, customers, and owners. GSP develops using an owner-operator mindset, creating long-lasting relationships built on integrity and honesty. The GSP team has extensive experience developing, commercializing, and financing some of the largest and most complex projects across North America. For more information, please visit www.granitesourcepower.energy. 

About Great Bay Renewables  

Great Bay Renewables, based in Portsmouth, New Hampshire, provides creative capital solutions to the renewable energy sector. Specializing in royalty financing, Great Bay provides capital for renewable energy projects at all stages of their life cycle, including addressing critical financial hurdles such as interconnection security deposits. To date, the company has invested more than $730 million in the sector, creating royalty agreements on over 35 renewable energy projects totaling approximately 8.2 GW. Great Bay's management team has extensive experience in renewable energy development, financing, and operations across a range of technologies throughout the United States. Great Bay is backed by Altius Renewable Royalties Corp. and certain funds managed by affiliates of Apollo (NYSE: APO). Learn more at https://www.greatbayrenewables.com/ or follow us on LinkedIn.

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SOURCE Granite Source Power