Capital Dynamics, an independent global private asset management firm, says its Clean Energy Infrastructure business has signed an agreement with U.S. energy company Tenaska to develop a portfolio of nine battery energy storage system (BESS) projects located throughout California’s highest electrical load centers.
The agreement expands the strategic relationship between the two companies, which jointly own two solar facilities in the Imperial Valley of California and are developing additional solar projects.
The BESS projects are designed to deliver local preferred and non-greenhouse gas (GHG) power resources to manage high-demand conditions caused by California heat waves, power supply shortages and growing local power supply deficiencies in the Bay Area, Los Angeles and San Diego areas, that cannot be reliably served solely by intermittent renewables.
“With its focus on achieving robust clean energy goals, California is poised for continued significant growth in energy storage demand,” says Benoit Allehaut, managing director in Capital Dynamics’ Clean Energy Infrastructure team.
“We are excited to join with Tenaska to build high-quality battery energy storage facilities to help integrate renewables and reinforce CAISO grid reliability and resilience. We hope to quickly contract resource adequacy with utilities and CCAs to grow this portfolio,” he adds.
The BESS facilities will store and maximize the use of clean, renewable energy sources like solar and wind, so they may be deployed back to the grid during peak energy usage periods. In total, the projects will provide approximately 2,000 MW of critically needed clean energy into the California Independent System Operator (CAISO) market.
This California BESS collaboration between Capital Dynamics and Tenaska builds on successful development agreements between the two companies to develop 24 solar projects totaling approximately 4,800 MW of renewable generation in the Midcontinent Independent System Operator (MISO) market and Southeast Reliability Council (SERC).
Photo: Tenaska’s About Us web page
