"Energy Storage Company": Peregrine Energy's Zeppelin Energy Storage & Technology Towers

On August 23, 2024 Assistant City Manager Michael Dane sent letters to Tom Green County Judge Lane Carter and SAISD Superintendent Dr. Chris Moran.  The letter stated:

The City of San Angelo City Council intends to hold a Public Hearing regarding a request by Technology Towers, LLC to designate its property located at the easterly 12.9 acres of land, more or less, out of a 32 acre tract of land, more or less, out of Survey 1114, Abstract No. 8036, F. Tankersley, Tom Green County, Texas, and being more particularly described as Parcel 2 in that certain Warranty Deed dated June 1, 2007, of record at Instrument No. 633054, Official Public Records, Tom Green County, Texas (see attached) as a reinvestment zone for purposes of obtaining an abatement of the increase in City of San Angelo ad valorem taxes resulting from a proposed capital investment by Zeppelin Energy Storage LLC of up to 160 Million Dollars in business personal property.

Dane presented this item to City Council on September 3, 2024.  

His slide with "company information" never identified any of the companies involved, Peregrine Energy, Zeppelin Energy Storage, Technology Towers or McGuire Woods Consulting LLC. (on behalf of Peregrine Energy).

Michael Dane did mention a ten year tax abatement Council recently awarded and assured elected officials that this abatement was for a shorter period of time (also for far more money-$ amount not shared).  

Technology Towers received that ten year abatement for improvements planned at the former Sitel Building, another fact not shared in the September 3rd City Council meeting.

Council's public support for Technology Towers projects include three different subsidies.

 The body of the letter sent to Tom Green County and San Angelo Independent School district is below:

The economic development analysis projects virtually no employment from the project over its ten year life.

That's what staff knew that Council and the public did not hear on September 3rd.  Peregrine Energy is private equity funded on both the equity and debt side.  It's rather Grinch like to save private equity investors millions, while foisting new health insurance deductibles on retired city workers.  

The Zeppelin Energy Storage LLC tax abatement agreement must come back before Council.  It would be nice to hear someone ask about wisdom of significant tax abatement when retirees on fixed, low incomes cannot afford their next medicine refill, a hospital test or outpatient surgery.