Renewable energy company Arevon Asset Management has opened one of the largest battery energy storage sites in the country near Oxnard in Ventura County.
The Saticoy battery energy storage system will help reduce electricity grid outages and deliver power during peak demand times without air, water and noise pollution, the Scottsdale, Ariz. company said in a release.
Arevon is owned by Capital Dynamics Inc., a private asset management firm based in Zug, Switzerland.
John Breckenridge, head of clean energy infrastructure at Capital Dynamics, said that on hot days when the grid struggles to keep up, the Saticoy battery storage facility will help keep the lights on with local power.
“We’re proud to have worked with Arevon, our asset management affiliate; the county; and local utility Southern California Edison to improve grid reliability,” Breckenridge said in a statement.
Electricity from the site is supplied to Southern California Edison under a 20-year purchase and sale agreement. The power stored there is enough to power Oxnard for four hours or all of Ventura County for 30 minutes.
The 100 megawatt storage facility features 142 Megapacks, the utility-scale lithium-ion battery storage product from Tesla Inc. Megapacks charge from the grid, store energy during nonpeak hours and can be discharged to match electricity supply and demand and can provide power during peak demand, Arevon said in its release.