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Vistra, Tesla Awarded PG&E Storage Projects

July 02,2018



Vistra Energy and Tesla were among the providers selected by Pacific Gas and Electric Company for storage resources. PG&E has selected third parties for 567 megawatts (MW) of storage resources:

The third-party projects include: a 10MW aggregation of behind-the-meter batteries located at customer sites and interconnected to local substations within the South Bay – Moss Landing local sub-area; a stand-alone, transmission-connected 75MW battery energy storage system (BESS) located near the city of Morgan Hill; and a stand-alone, transmission-connected 300MW BESS located in Moss Landing.

The third-party projects are:

• Dynegy Marketing and Trade, LLC (Vistra Moss Landing Energy Storage): 300 MW

• Tesla, Inc. (Moss Landing Energy Storage): 182.5 MW

• Hummingbird Energy Storage, LLC (Hummingbird Energy Storage): 75 MW

• Micronoc Inc. (mNOC AERS Energy Storage): 10 MW

Vistra said of its project that, subject to approval by the California Public Utilities Commission (CPUC), the company will enter into a 20-year resource adequacy contract with Pacific Gas and Electric Company (PG&E). Under the contract, Vistra will develop a 300-megawatt/1,200-megawatt hour, battery energy storage project at its Moss Landing Power Plant site in Moss Landing, California.

Vistra listed project highlights as:

• Investment underpinned by a 20-year resource adequacy contract with PG&E, an investment grade offtaker.

• Vistra retains energy and ancillary services value.

• Attractive development and construction costs with returns consistent with Vistra's investment criteria.

• Will use the existing interconnection from the mothballed Moss Landing units 6 and 7.

• Will use an existing turbine building on the site to house the batteries.

• Vistra estimates the project will convert more than 95 percent of its adjusted EBITDA to adjusted free cash flow.

PG&E also proposed a utility-owned project -- a 182.5 MW lithium-ion battery energy storage system (BESS) located within PG&E’s Moss Landing substation.



Tags:
California   Storage   Vistra Energy   Batteries   Contract awards   PG&E  

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