Arevon Energy, a renewable-energy developer, owner and operator, has signed a long-term tolling agreement with electricity provider MCE for 188 megawatts of the Cormorant Energy Storage Project.
Cormorant Energy Storage is a 250 megawatt/1,000 megawatt-hours stand-alone battery energy-storage system that will be constructed in two phases in Daly City, Calif. The first 188-megawatt phase is scheduled to begin construction in first quarter 2025 and is anticipated to become operational in second quarter 2026.
Cormorant Energy Storage will feature state-of-the-art battery technology that will store energy during nonpeak hours and discharge energy to provide power 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.
This agreement is the first commercial contract for Arevon and MCE. MCE is a