Eos Energy stock surges 12% on West Virginia solar project deal

Eos Energy Enterprises (NASDAQ:EOSE) rose 12% Wednesday following the announcement of a collaboration with MN8 Energy and Google to build a solar and energy storage project in West Virginia.

The project combines 86 MW of utility-scale solar, 10 MW/100 MWh of Eos’ Z3 zinc-based long-duration energy storage, and 70 MW/280 MWh of lithium-ion energy storage. The integrated portfolio will add clean, dispatchable capacity to the PJM grid serving Google’s data centers in the region, including a planned facility in West Virginia.

The solar project is expected to reach commercial operation in 2028, with lithium-ion storage and long-duration storage following in 2029 and 2030, respectively. Google will purchase the energy, capacity, and clean energy attributes of the project.

The project marks Google’s first deployment of Eos’ American-made Z3 technology and the first project under the previously announced MN8-Eos Master Supply Agreement. The 10 MW/100 MWh system is designed to provide 10 hours of storage, extending the availability of solar generation beyond shorter-duration resources.

MN8 Energy will own and operate the Mammoth Solar project in Kanawha County, West Virginia, which is built on a reclaimed coal mine. The project represents up to $350 million in capital investment and is expected to generate approximately $4 million in property tax revenue for the county and local schools over the first 20 years of operations. Construction is expected to create approximately 200 jobs.

Eos Energy Enterprises is a U.S. manufacturer of zinc-based long-duration energy storage systems with headquarters and manufacturing operations in Pittsburgh, Pennsylvania.