Battery energy storage developer Balanced Rock Power (BRB) has reached exclusivity with a potential buyer, NPM has learned.

The Moab, Utah-based developer hired RBC Capital Markets earlier this year.

BRP has developed and sold projects to the likes of Gridstor, Goshe Energy Storage, and Standard Solar in recent years.

While the platform entered the market at a time when larger IPP BESS developers and operators such as Aypa Power were in the market, it also comes at a time when demand for BESS, including long-duration energy storage, remains high.

NPM Interconnection queue data is tracking seven projects, either storage or paired projects, under development by BRP across Texas, Nevada and Arizona.

According to a recently filed Semi-Annual report by its majority investor SG Energy’s parent Supergas Power, BRP had abandoned and dissolved five projects at a charge of USD 1.267m in 2Q26 and refundable interconnection-study deposits of approximately USD 1.349m at the end of June.

SG Energy also indicated BRP made distributions of USD 965,000 to its sponsor and still owed SG Energy an additional USD 5.621m as of the end of June.

Additionally, BRP entered into a sale-leaseback agreement with a third-party buyer on May 26 providing USD 6.37m in cash at closing and potential future consideration of about USD 9.23m contingent on development milestones.

BRP had USD 46.2m in surety bonds and a USD 2.5m surety-backed letter-of-credit as of June 30. Its USD 77.7m LC facility with Bank Hapoalim expired at the end of July.

Also, BRP obtained an equity investment and a letter of credit facility from Israel-based renewable energy company SG Energy in August 2021 and then entered a separate unit subscription agreement in July 2023.

BRP did not return multiple calls seeking comment.