A Significant Partnership
US renewables developer Arevon Energy Inc has reached a notable milestone, unveiling a long-term tolling agreement for a 188-MW segment of the Cormorant energy storage project in Daly City, California. This partnership signifies a strategic alliance between Arevon Energy and MCE, a community choice energy provider catering to 1.5 million residents and businesses across Contra Costa, Marin, Napa, and Solano counties. The collaboration underscores Arevon Energy’s commitment to advancing renewable energy initiatives, while also bolstering MCE’s efforts to deliver clean, reliable, and affordable electricity services to the communities it serves in the Bay Area.
About the Cormorant Project
Empowering Clean Energy
Dawn Weisz, CEO of MCE, expressed enthusiasm for the partnership, highlighting the project’s role in advancing clean, reliable, and affordable electricity services for Bay Area residents and businesses. The collaboration underscores Arevon Energy’s commitment to expanding its energy storage portfolio to enhance grid stability and resilience in California, thereby supporting the state’s ambitious decarbonization objectives.
A Vision for the Future
Kevin Smith, CEO of Arevon Energy, emphasized the company’s dedication to driving progress in renewable energy infrastructure. He reaffirmed Arevon’s commitment to furthering California’s decarbonization goals through the development of innovative energy storage solutions.
Recent Achievements
In addition to the Cormorant project, Arevon Energy has been actively advancing its renewable energy portfolio. The company recently secured an offtake agreement for its Avocet Energy Storage project, a 200-MW/800-MWh initiative in California. Furthermore, Arevon achieved financial close on the Posey solar project in Indiana, boasting a total direct current (DC) capacity of 228 MW, underscoring its commitment to advancing renewable energy initiatives across the United States.
Conclusion
With the signing of the tolling agreement for the Cormorant energy storage project and the continued progress on its renewable energy ventures, Arevon Energy remains at the forefront of the transition to clean and sustainable energy solutions. Through strategic partnerships and innovative projects, the company is poised to play a pivotal role in shaping the future of renewable energy in the United States.
