US infrastructure investor FIC Partners Management has acquired Perfect Power, developer and owner of the Jaguar Energy Center, a planned grid-connected solar and battery storage project in Texas with up to 1.15GW of capacity.
The Jaguar Solar project is a 300MWac utility-scale PV plant co-located with the a battery energy storage system (BESS) near Waco, Texas. The project began construction in 2025 and is expected to be operational in 2028.
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The Jaguar Energy Center is being developed across approximately 4,500 acres and will supply power to Electric Reliability Council of Texas (ERCOT), the electricity market operator supplying the majority of Texas, in the ‘Texas Triangle’ region of central-eastern Texas, which is experiencing rising electricity demand.
Cyrus Aghili, co-managing partner of FIC said: “The Texas Triangle is at the centre of multi-decade demand growth driven by population demographics, industrial expansion, and data centre development. Storage and renewables co-located on an already interconnected site provides a strong platform to serve that demand.”
Perfect Power was established in 2021 and has developed the project as a combined renewable energy and battery storage platform. FIC said it will continue advancing the Jaguar Energy Centre and pursue additional power infrastructure opportunities.
Financial details of the transaction were not disclosed.
Perfect Power is also developing the 300MW/680MWh Axtell BESS project in McLennan County, Texas, which is expected to enter commercial operation in 2029. Its portfolio includes two additional construction-ready battery storage projects: the 9.9MW/19.8MWh Brooks Falfur BESS in Brooks County and the 9.9MW/19.8MWh Bexar Beck BESS near San Antonio.
