IRVING, Texas -- Company continues its investment in new technologies, strengthening its position as an industry leader in utility-scale battery energy storage development
Vistra (NYSE: VST) today announced that, subject to approval by the California Public Utilities Commission (CPUC), it will expand the size of the battery energy storage systems at its Moss Landing Power Plant site in Moss Landing, California. The company has entered into a 10-year resource adequacy agreement with Pacific Gas and Electric Company (PG&E) for a new 100-megawatt/400-megawatt hour battery to complement the 300-MW/1,200-MWh battery already under construction. On Monday, May 18, PG&E filed its application with the CPUC to approve the contract, with a decision expected within 120 days.
"Our Moss Landing site provides a unique opportunity for extensive battery development with its existing infrastructure and the physical space needed for even more potential growth. Utilizing our existing power plant sites allows us to cost-competitively develop renewable and battery storage assets as we rotate our power generation portfolio toward carbon-free technologies," said Curt Morgan, Vistra's president and CEO. "Vistra is appreciative of the opportunity to, once again, work with PG&E and the State of California to help integrate clean energy from renewable generation sources and ensure reliability of the electric system."
Today's announcement brings Vistra's total to 436.25 MW/1,745 MWh of battery energy storage under contract in California:
Vistra is a market leader in utility-scale battery development: in addition to its California projects, the company's 10-MW/42-MWh Upton 2 Battery Storage Facility came online in December 2018 and is the largest solar-plus-storage system in Texas. When the Moss Landing battery comes online, it will be the largest battery of its kind in the world.
"As a company that provides an essential product like electricity, we feel it's important to balance reliability with reducing our environmental footprint. We're proud to be a part of this transition to newer technologies and to develop a world-class battery project at a site that has been providing Californians with electricity since 1950," Morgan continued.
Pending the receipt of CPUC approval, Vistra anticipates construction on the second phase of the Moss Landing battery energy storage project will commence in July 2020 and will begin commercial operations prior to Aug. 1, 2021. Phase I remains on schedule to begin operations later this year in December 2020.
Vistra (NYSE: VST) is a premier, integrated, Fortune 300 energy company based in Irving, Texas, providing essential resources for customers, commerce, and communities. Vistra combines an innovative, customer-centric approach to retail with safe, reliable, diverse, and efficient power generation. The company brings its products and services to market in 20 states and the District of Columbia, including six of the seven competitive markets in the U.S. and markets in Canada and Japan, as well. Serving nearly 5 million residential, commercial, and industrial retail customers with electricity and natural gas, Vistra is the largest competitive residential electricity provider in the country and offers over 40 renewable energy plans. The company is also the largest competitive power generator in the U.S. with a capacity of approximately 39,000 megawatts powered by a diverse portfolio, including natural gas, nuclear, solar, and battery energy storage facilities. In addition, the company is a large purchaser of wind power. The company is currently constructing a 300-MW/1,200-MWh battery energy storage system in Moss Landing, California, which will be the largest of its kind in the world when it comes online. Vistra is guided by four core principles: we do business the right way, we work as a team, we compete to win, and we care about our stakeholders, including our customers, our communities where we work and live, our employees, and our investors. Learn more about Vistra's environmental, social, and governance efforts and read the company's sustainability report at https://www.vistraenergy.com/sustainability/.
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SOURCE Vistra Energy