500 MW compressed air energy storage project in California secures offtaker
13 Jan, 2023
Central Coast Community Energy (3CE) in California has inked a 25-year power purchase agreement with Hydrostor valued at almost $1 billion.
The deal involves purchasing 200 MW/1600 MWh of energy storage from Hydrostor’s planned 500 MW compressed air energy storage system.
Hydrostor’s technology enables cost-effective storage of up to eight hours of energy without using fuels, occupying a smaller footprint compared to pumped hydro facilities.
This project, known as Willow Rock, aims to aid 3CE in achieving its goal of providing 100% clean and renewable electricity to its 447,000 customers by 2030.
The initiative will charge using surplus renewable energy and alleviate the need for new peak-demand generating facilities and costly transmission lines.
Hydrostor anticipates the project to employ up to 40 full-time operators with no performance degradation over its 50-plus year lifespan.
Discussions for the remaining 300 MW of the project’s capacity are ongoing.