Energy Storage
Grid-scale battery energy storage and compressed air storage systems. — targeting a net IRR of 13–18% across contracted, operator-led energy assets.
Investment thesis
Fund 5 owns grid-scale battery energy storage and compressed air energy storage systems that firm the grid and monetize volatility. We underwrite conservative cycle-life assumptions, augmentation reserves, and long-term service agreements with tier-one integrators, targeting contracted revenue — tolling agreements and capacity contracts with investment-grade counterparties — that de-risks the arbitrage component of storage economics while preserving upside.
Target asset types
- 4-hour-plus lithium-ion battery storage systems
- Flow battery and long-duration chemistries
- Compressed air energy storage (CAES)
- Hybrid storage-plus-generation co-located assets
Corpus Christi Storage Hub
A 600 MW / 2,400 MWh battery storage facility contracted under a tolling agreement with a regional grid operator, providing capacity and ancillary services with a tier-one integrator service agreement.
Representative, illustrative profile of the asset type this fund targets. Not an offer, commitment, or existing holding.
Vehicle summary
We size each fund to the durability of its cash flows, not the appetite of the moment. Concentration follows conviction, and conviction follows underwriting.Alzaro Energy Investment Committee
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