ENERGY STORAGE

2GW / 6GWH BATTERY ENERGY STORAGE SYSTEMS FOR PROJECTS OPERATING IN CALIFORNIA

A2GW / 6GWh of Tesla’s Megapack battery energy storage systems (BESS) has been supplied to California. US renewable energy company Arevon has signed a master supply agreement for 2GW / 6GWh of Tesla’s Megapack battery energy storage systems (BESS). Arevon is purchasing the Megapack all-in-one BESS solutions for use in the Falcon Portfolio, nine large-scale standalone battery storage projects in California which it is executing as a joint venture (JV) with independent power producer (IPP) Tenaska. According to documents filed with the California Independent System Operator (CAISO), which oversees California’s grid network and wholesale electricity markets, the Falcon Portfolio could be brought online from summer 2022 and the following summer and all the projects involved are at an advanced stage of development. Split across the service areas of California’s three main investor-owned utilities (IOUs), the BESS projects will provide up to four-hours of energy per day to meet Local Capacity Requirements (LCR). They can be charged with wind and solar from times of surplus renewable production which might otherwise be curtailed and go to waste, and - as has been seen with a number of other battery projects - replace the role of gas-fired generation. Both the Falcon Portfolio JV with Tenaska and Tesla supply deal build on long-standing relationships for Arevon: Tenaska and Arevon have already worked together on solar projects around the US, including in the Midcontinent Independent System Operator (MISO) market while Tesla’s Megapacks are already in use or being deployed at several Arevon projects. By the end of 2021, Arevon will have constructed and brought into operation 250MW / 1,000MWh of projects using Megapacks in California and Nevada. In California, one notable project brought online in June, is Saticoy, a standalone 100MW / 400MWh BESS which was developed and built using 142 3MWh Megapacks, after local community opposition to a new gas power plant. Saticoy went online just nine months after construction began and supplies power to IOU Southern California Edison (SCE) through a 20-year power purchase agreement (PPA). Like a gas peaker plant, it provides energy to the grid when local demand for energy is at its highest. Unlike a peaker plant, it doesn’t cause local emissions or pollution and the fuel it uses is abundant solar or offpeak grid energy not subject to gas pricing fluctuation. “Arevon is at the forefront of powering the energy transition through solar and storage resources. We are “Arevon is at the forefront of powering the energy transition through solar and storage resources. We are pleased to renew our relationship with Tesla, securing high-quality product that is in high demand,” Arevon chief operating officer Justin Johnson said. “This agreement ensures that Arevon can deliver near-term storage solutions to our customers, mitigating the risk of supply shortages and project delays.” Arevon Energy, Inc., and Capital Dynamics, an independent global private asset management firm, recently announced that two of their U.S.-based clean energy infrastructure funds received high scores in GRESB’s 2021 ESG Infrastructure Benchmark. These funds have earned high marks for the last three years. During the 2020 reporting period, Capital Dynamics was the investment manager of the funds and Arevon provided operations and asset management consulting services. Four operating solar assets – Moapa, California Flats, Mt. Signal 3, and 8point3 – netted four of the top five places in the North American Private Renewable Energy category. “We are honoured that GRESB has recognised our commitment to sustainability for a third consecutive year,” said John Breckenridge, chief executive officer of Arevon. “Our performance is a reflection of the entire team’s dedication to meeting high ESG standards across the investment, development, construction, and operations phases of a project. Arevon’s multifaceted expertise allows us to deliver innovative clean energy solutions in a sustainable manner.” The GRESB infrastructure assessment is a leading industry ESG benchmark. The assessment is aligned with the UN Sustainable Development Goals, the Paris Climate Agreement, and major international reporting frameworks. By providing a consistent framework, GRESB allows asset managers, investors, and partners to measure ESG performance across a fleet and over time. Arevon Energy, Inc. is a leading renewable energy company with roots as one of the largest renewable asset managers in the US. Arevon uses innovative approaches and leading-edge technology to provide performance asset management & construction services to nearly 10 GWac of renewable energy assets delivering clean energy to utilities and corporations.

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