Canadian Solar announced that its wholly owned subsidiary Recurrent Energy has signed two 15-year power purchase agreements (PPA) with Silicon Valley Clean Energy and Monterey Bay Community Power for a 150-MW solar energy and 180 megawatt-hours (MWh) battery storage system. This joint procurement effort represents the largest contracted solar-plus-storage project in California to date.
This first-of-its-kind partnership resulted from a joint procurement process that Silicon Valley Clean Energy and Monterey Bay Community Power launched in September 2017 to source cost-effective, renewable power for their respective communities.
“As a community choice aggregator, we are proud to help California lead the transition to clean, reliable and flexible energy,” said Girish Balachandran, CEO of Silicon Valley Clean Energy. “We are proud to partner on a new renewable energy project that makes a significant investment to reach our state’s carbon-free energy goals and contribute to solving the state’s grid integration problem by investing in large grid-scale energy storage.”
Power will be supplied from Recurrent Energy’s Slate PV-plus-storage project to be built in Kings County, California.
“We’re excited to have participated in this joint procurement effort that will not only include solar, but a landmark amount of energy storage for the state of California as well,” said Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar. “With the integrated storage component, both CCAs will have the flexibility to fill the battery when wholesale energy prices are low and then discharge the energy when prices are higher to meet their unique load requirements in a cost-competitive manner.”
The project’s lithium-ion battery component is 45-MW nameplate with 180 MWh of energy capacity, allowing for four hours of flexible energy delivery.
“Recurrent Energy was the first developer to close financing for a utility-scale solar project with CCA off-takers and we will leverage this expertise to ensure the project is successful,” added Qu.