Supporting the Energy Transition through Battery Energy Storage Systems

SCOR is strongly committed to advancing energy growth and transition, integrating Environmental, Social, and Governance (ESG) principles into its underwriting and investment activities. As a longstanding participant of the United Nations Global Compact and a founding signatory of the Principles for Sustainable Insurance, SCOR actively backs innovative low carbon projects, such as the DeCordova Battery Energy Storage System (BESS) facility in Granbury, Texas. This facility contributes to the energy transition by bridging gaps in renewable energy supply and demand, reflecting SCOR’s broader strategy to support emerging clean energy technologies and help drive a more sustainable future.  

Battery Energy Storage Systems (BESS)

Battery Energy storage systems store electrical energy in batteries, so that the power can be discharged later when needed. The batteries charge when electricity is cheap, for example on hot sunny days when solar power is abundant, or in mild windy conditions when wind power is abundant. The stored electricity can then be discharged when demand peaks. BESS are critical for turning power that is only available at certain times – such as when the sun is shining – into power that is available anytime. 

Vistra and the DeCordova BESS facility

Launched in May 2022, the DeCordova plant in Granbury, Texas is operated by Vistra, a leading Fortune 500 integrated retail electricity and power company that provides essential power resources to customers, businesses, and communities from California to Maine. The plant is part of the company’s Vistra Zero subdivision, which focuses on zero-carbon power generation. 

Using lithium iron phosphate technology, the DeCordova plant has an energy storage capacity of 260MW. With more than 22,000 individual batteries housed in 86 modules, it can store enough energy to power 130,000 homes. 

BESS and the electrical grid 

Because they help to bridge the gaps that arise when supply and demand drift out of balance, facilities like the DeCordova plant are important to the stability of the electrical grid. For example, if a cloud passing over a solar farm or a lull in the wind suddenly reduces generation, BESS can add power to the grid in milliseconds – considerably faster than other electrical storage technologies. Strategically located BESS facilities also help to reduce strain on the transmission system when power is moved over long distances at peak times.  

SCOR's broader commitment to renewable energy

Our support for this project is part of SCOR's broader strategy to foster a sustainable and resilient future. Through our New Energy Practice, launched in 2023, we support the ongoing energy growth and transition needs of our clients, offering comprehensive insurance solutions for a wide range of low-carbon technologies such as wind farms, solar farms, carbon capture, and biofuels.

Looking ahead

As we continue to support projects like the DeCordova BESS facility, SCOR remains committed to accelerating the energy transition. By providing end-to-end coverage and leveraging our global expertise, we ensure that our clients are protected at every stage of their energy transition journey. Together, we can build a more sustainable future.