Strata Solar says its battery project, Ventura Energy Storage (VES), a 100 MW, 400 MWh battery energy storage system in unincorporated Ventura County, Calif., has completed pre-construction development.
The project, developed by Strata, has awarded an engineering, procurement and construction (EPC) contract to Tesla for its Megapack battery system. Construction, using local union labor, is scheduled to commence in July.
Strata Solar’s Ventura Energy Storage project was competitively selected by Southern California Edison (SCE), a subsidiary of Edison Int., for a 20-year power purchase agreement (PPA) in April 2019 to supply local capacity. The California Public Utilities Commission (CPUC) unanimously approved the PPA in December 2019. As the largest project selected in the paradigm-shifting solicitation by SCE, the project is helping southern California to move away from the Aliso Natural Gas Storage facility and coastal power plants without compromising reliability.
“This precedent setting project is a testament to Strata Solar’s 12 years of success in the energy industry and our commitment to battery storage development as a core business line,” says Markus Wilhelm, founder and CEO of Strata.
“We focus on smart development, value for our customers and strong returns for our investors with a team that has the experience to deliver results,” he adds.
Following the development effort, the project recently completed entitlements and finalized all necessary commercial agreements. Equity interest in the project is scheduled to close in the second quarter. The substantial investment in Ventura’s energy infrastructure would not be possible without the numerous local stakeholders and supporters committed to the project’s success, notes the company.
Ventura Energy Storage will provide extensive benefits to the county and region including reliable on-demand power with no emissions. In addition, more than $3 million in new sales and use tax and more than $9 million in new property taxes will be generated. To ensure local job growth, a Project Labor Agreement has been signed with the Tri-Counties Building and Construction Trades Council.
Developed on a brownfield site in a private industrial park, the Ventura Energy Storage project is sited away from residences and in close proximity to a critical transmission line, which provides backbone power for much of western Ventura County. The project also co-invested in modernizing the local water system to support area fire prevention and additional business growth.