Photo courtesy of the city of Everett

Citing its potential to serve as a “multi-use energy interconnection hub,” Eversource has acquired a portion of Constellation Energy’s former Mystic property in Everett.

The company said in a Christmas Eve announcement that it would work in the coming year to develop plans for the 26-acre site but believes it will play a role in helping the state’s transition to renewable energy due to its historic use, strategic location and existing infrastructure.

Eversource tied the site to potential “large-scale renewable energy sources – including onshore or offshore wind, hydro, battery storage and nuclear among others – with the capacity to support electrification and meet the reliability needs for major energy users in the region.”

The parcel is next to the site where The Kraft Group intends to build a soccer stadium, a series of parcels Wynn Resorts bought before the pandemic with hotels and other entertainment uses in mind and a large site where The Davis Companies is pursuing a battery-based energy storage facility.

In a statement, Eversource CEO Joe Nolan said the site represents a “one-of-a-kind opportunity to support our shared energy goals, spur economic development and help create jobs.”

“Purchasing this site will allow us to transform it into a premier energy interconnection hub that enhances reliability for the entire New England region, building on Massachusetts’ reputation as a national leader with its collaborative approach to the ongoing energy transition,” Nolan said. “We are eager to work with the local community, state officials and other key stakeholders to develop innovative plans for the property that will deliver carbon-free energy to customers as part of a reliable, equitable, and cost-effective energy future for our region.”