Energy Vault begins construction of hybrid energy storage system

  • Stock Market News
Energy Vault begins construction of hybrid energy storage system
Credit: © Reuters.

WESTLAKE VILLAGE, Calif. - Energy Vault Holdings, Inc. (NYSE: NRGV), a company specializing in sustainable energy storage solutions, has initiated construction of a green hydrogen and battery energy storage system for Pacific Gas and Electric Company (PG&E (NYSE: PCG )) in Calistoga, California. The project, known as the Calistoga Resiliency Center, is anticipated to be operational by the end of Q2 2024.

The hybrid system, combining lithium-ion batteries with hydrogen fuel cells, will provide 293 megawatt-hours (MWh) of carbon-free energy, capable of powering approximately 2,000 electric customers for up to 48 hours during Public Safety Power Shutoffs (PSPS). These shutoffs are precautionary measures against wildfire risks, necessitating the shutdown of power lines.

This initiative is a significant step towards the California Public Utilities Commission's (CPUC) vision for cleaner microgrid generation, approved in April 2023. The Calistoga project is set to be the largest utility-scale green hydrogen energy storage venture in the United States, replacing mobile diesel generators previously used during PSPS events.

Energy Vault will own, operate, and maintain the system under a 10.5-year tolling agreement with PG&E. The system is designed to serve critical facilities and the surrounding area in Calistoga during PSPS events, ensuring continuity and resilience.

Marco Terruzzin, Chief Commercial and Product Officer at Energy Vault, emphasized the importance of the project for community sustainability and grid resiliency. The system will utilize Energy Vault's VaultOS™ Energy Management System to manage operations, integrating green hydrogen and battery technologies for reliable backup power.

Energy Vault's comprehensive energy storage solutions are supported by its proprietary energy management system software and integration platform, aiming to reduce energy costs while maintaining power reliability.

The information in this article is based on a press release statement from Energy Vault Holdings, Inc.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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