Denver Board of Water Commissioners Agenda Packet 2026-06-24
Pivot Energy Lease Approved for Battery Storage Project
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Description
Denver Water intends to approve a long-term lease agreement with Pivot Energy, Inc. for battery storage facilities at the 56th Avenue Pump Station, with $3,000 in annual rent during development and operations rent starting at $5 per square foot plus escalators. The project, contingent on Xcel selection, will support grid reliability while generating revenue on underutilized property.
Contract Details
Contract Amount
$3,000 annually during development; $5.00 per square foot first year of operations with 2% annual escalator
Vendor
PIVOT ENERGY INC
Agency
Denver Water District, NY
Contract Type
FACILITIES
Document Date
June 23, 2026
Contract Term
Development period up to 3 years, followed by 20-year operations term with four optional 5-year extensions
Renewal Info
Lease includes an initial development period and a 20-year operations term plus four optional five-year extensions; annual rent escalates 2% during operations, and Denver Water retains an early termination right with a fee.
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