In a landmark step for clean energy innovation in the U.S., Plus Power has secured $160 million from Morgan Stanley to advance two of New England’s most transformative battery energy storage projects — Cranberry Point and Cross Town. This investment not only reinforces Plus Power’s leadership in grid-scale storage but also highlights growing investor confidence in the role of battery systems as the backbone of America’s renewable energy transition.
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Plus Power’s latest $160 million financing marks another milestone in its aggressive expansion across the U.S. energy storage market. Of this amount, $95 million will power the Cranberry Point BESS in Massachusetts, while $65 million will fuel the Cross Town BESS in Maine. This follows the company’s earlier success in raising over $290 million in debt financing for both projects, encompassing construction-to-term loans, tax equity bridge loans, and letter of credit facilities. With Morgan Stanley at the helm, the investment signals deep institutional trust in Plus Power’s technical and operational expertise. Together, these capital infusions are positioning Plus Power to redefine energy reliability in the New England grid.
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Cranberry Point, located in Carver, Massachusetts, stands as a 150 MW / 300 MWh facility and has been fully operational since May 2025. Meanwhile, Cross Town, a 175 MW / 350 MWh facility in Gorham, Maine, is set to commence commercial operations by December 2025. Together, they represent the largest battery energy storage assets ever built in New England. These facilities are strategically designed to serve the ISO-NE grid, ensuring peak demand management, grid stability, and renewable energy integration. Their combined 325 MW capacity will enable more efficient use of intermittent renewable sources such as wind and solar, helping the region transition toward a cleaner, more resilient power system.
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Beyond the numbers, Plus Power’s projects symbolize a forward-thinking approach to energy transition. By leveraging advanced battery systems and data-driven grid integration, the company is addressing one of the most critical challenges in renewable energy — intermittency. The Cranberry Point and Cross Town projects are not just assets; they are proof points of how technology, investment, and vision can converge to shape a sustainable energy future. As these systems come online, they will enhance regional energy reliability, reduce carbon emissions, and support state-level decarbonization goals across New England.
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Plus Power’s $160 million investment round, led by Morgan Stanley, cements its role as a pioneer in large-scale battery storage. With Cranberry Point already operational and Cross Town nearing completion, New England is on track to become a model for clean energy resilience. As the nation continues to push for a carbon-neutral future, projects like these exemplify how financial innovation and technology can together energize the path to sustainability.

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