Medway Energy Center

Overview

• Medway is a 300-740(1) MW / 1,200-2,960 MWh 3-phase development BESS asset located in Norfolk, MA (Norfolk County) outside of Boston with NTP to be declared as early as Q3 2024 with expected COD in Q4 2026
  –  Phase 2 represents an additional 300 MW / 1,200 MWh with NTP in Q2 2026 and COD in Q4 2027
  –  Phase 3 represents an additional 140 MW / 560 MWh with NTP in Q2 2026 and COD in Q4 2027
• Major permitting, environment and interconnection development workstreams have progressed without red flags
• The Medway site consists of two parcels:
  –  Parcel one: secured via a 30-month option-to-purchase agreement executed with the site owner which expires on January 26, 2024
  –  Parcel two: secured via a 39-month option-to-purchase agreement executed with the site owner that expires on July 31, 2025
• The project is expected to connect to the West Medway 345 kV Substation and execute the SGIA by Q2 2024