Nexus Renewables U.S. Inc., is pleased to announce an agreement with Pacific Gas and Electric Company (PG&E), San Francisco, California, whereby Nexus Renewables will service 100+MWh of Resource Adequacy needs in Northern and Central California through a fleet of behind-the-meter energy storage resources.
Nexus Renewables’ energy storage fleet will serve three primary goals under a 15-year power purchase agreement (PPA) with PG&E:
- First, it will provide targeted local capacity and enhance grid reliability during peak periods.
- Second, as fast-acting stabilization devices, the portfolio will provide regulation services to improve the effective load carrying capacity from renewable resources that are otherwise intermittent.
- Finally, as behind-the-meter infrastructure, the fleet will help select commercial and industrial host sites realize bill savings and enjoy added resiliency benefits.
These battery energy storage assets will help the State of California in making its targets of 60 percent renewable energy penetration by 2030 and 100 percent by 2050, a reality.
“This is a significant milestone for Nexus Renewables, solidifying our presence as one of North America’s fastest growing alternative energy providers. We are excited to collaborate with PG&E, one of North America’s most progressive utilities, and address system reliability objectives within the State of California. Energy storage is quickly becoming the technology of choice to integrate renewables and we see ourselves best positioned to capture this market opportunity,”said Keith Sandor, President at Nexus Renewables Inc.
The long-term PPA was awarded to Nexus Renewables as part of PG&E’s 2020 System Reliability Phase 2 Solicitation.
PG&E submitted the agreement to the California Public Utilities Commission for approval yesterday.
About Nexus Renewables Inc.
Nexus Renewables Inc., a portfolio company of Nexus Energy Inc., Toronto, Canada, is a turn-key developer, owner, operator of renewable energy infrastructure. Nexus Renewables is uniquely positioned with access to a 24/7 physical trading and dispatching desk. Through controlling the dispatch of renewable energy, Nexus Renewables actively manages infrastructure in a sector known for passive investment.