Arevon Announces Agreement with MCE for 250 MW Energy Storage Project

Arevon Energy, Inc., a renewable energy developer, owner, and operator, has signed a long-term tolling agreement with electricity provider MCE for 188 megawatts (MW) of the Cormorant Energy Storage Project. 
Arevon Announces Agreement with MCE for 250 MW Energy Storage Project
Solar + Storage, Boulder City (Arevon)

Cormorant Energy Storage is a 250 megawatt/1,000 megawatt-hour (MWh) stand-alone battery energy storage system which will be constructed in two phases in Daly City, California. The first 188 MW phase is scheduled to begin construction in Q1 2025 and is anticipated to become operational in Q2 2026.

Cormorant Energy Storage will feature state-of-the-art battery technology that will store energy during non-peak hours and discharge energy to provide power when it is needed during peak demand periods. Once both phases of the project are operational, Cormorant Energy Storage will be able to power more than 55,000 homes daily, facilitating the addition of more renewable energy resources into the region.

Cormorant Energy Storage is expected to support approximately 75 union construction jobs. The project is estimated to provide more than $27 million in property tax payments over its lifespan which will support city and county government activities as well as the local school district.

“This agreement showcases the strength of collaboration with MCE and also supports Arevon and MCE’s joint commitment to bring clean, reliable energy to local communities,” Kevin Smith, Chief Executive Officer at Arevon said.

This agreement is the first commercial contract for Arevon and MCE. MCE is a community choice energy provider that supplies clean electricity and local clean energy programs to 1.5 million residents and businesses across Contra Costa, Marin, Napa, and Solano counties.

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