Hecate Grid has progressed a 300MW/1,200MWh battery storage project in California, US, signing off-take contracts for its stored energy and gaining a key local authority approval.
The independent power producer (IPP) said last week that it has achieved what it described as two key milestones in the development of Humidor Battery Energy Storage System (BESS) Project, in Los Angeles County, California.
That included contracts signed with two California energy suppliers, the major investor-owned utility (IOU) Southern California Edison (SCE) and with MCE, one of the state’s community choice aggregator (CCA) groups.
CCAs are like non-profit utility companies which allow customers to choose where their energy comes from, with many electing to offer renewable energy-rich tariffs.
The contracts are for resource adequacy (RA), the main mechanism through which load-serving entities in California have to ensure they have sufficient energy resources available. RA contracts are typically long-term, typically providing secure revenues to BESS asset owners and investors over terms in excess of 10 years.
