Renewables developer Arevon Energy Inc announced today the signing of a long-term tolling agreement for a 188-MW portion of the Cormorant energy storage project located in Daly City, California.
The agreement, disclosed by Arevon, is with MCE, a prominent community choice energy provider catering to 1.5 million residents and businesses across Contra Costa, Marin, Napa, and Solano counties.
The Cormorant project, set to be a 250-MW/1,000-MWh stand-alone battery, will be constructed in two phases. The first phase, encompassing 188 MW, is slated to commence construction in the first quarter of 2025 and become operational in the second quarter of 2026.
Dawn Weisz, chief executive of MCE, expressed optimism about the partnership with Arevon, stating, “Through our partnership with Arevon, we are bringing online our largest battery storage project yet to support clean, reliable, and affordable electricity service for the Bay Area residents and businesses we serve.”
Arevon's chief executive, Kevin Smith, affirmed the company's commitment to expanding its energy storage portfolio to enhance grid stability and resiliency in California, furthering the state's decarbonization goals.
In addition to the Cormorant project, Arevon recently secured an offtake agreement for its 200-MW/800-MWh Avocet Energy Storage project in California. Furthermore, the developer achieved financial close on the Posey solar project in Indiana last week, boasting a total direct current (DC) capacity of 228 MW.
