Hydrostor, a long-duration energy storage developer, and Central Coast Community Energy, one of California’s largest community choice aggregators, announced Thursday a nearly $1 billion, 25-year energy storage power purchase agreement.
The contract calls for 200 MW/1,600 MWh from Hydrostor’s Willow Rock Energy Storage Center in Kern County, which will use the company’s advanced compressed air energy storage system, or A-CAES.
It’s one of the largest standalone long-duration energy storage PPAs, Hydrostor said, providing eight hours of energy storage to Central Coast Community Energy, and will serve more than 440,000 customers by 2030.
Jordan Cole, chief commercial officer of the Toronto-based Hydrostor, said the project “illustrates the commercial maturity” of its A-CAES product.
California has set a goal of 100% carbon-free electricity by 2045, requiring large-scale long-duration energy storage to support increasing levels of intermittent wind and solar generation capacity.
“Storage is the most critical piece in the transition to renewable energy,” said Robert Shaw, chief operating officer of Central Coast Community Energy.
Willow Rock will be able to deliver 500 MW of clean power for up to eight hours and will charge using surplus renewable energy and discharge to the grid at times of higher demand, Hydrostor said. The facility operates on less than 100 acres, significantly smaller than a comparable facility operating on pumped hydro power, which represents more than 90% of all long-duration energy storage, the company said.