Leeward Renewable Energy Signs Long-Term Resource Adequacy Agreement with Pacific Gas & Electric Company for Sierra Pinta Energy Storage Project
112.5-megawatt standalone battery storage project in Arizona to dispatch power during peak load times
Furthers investment in Arizona and brings tax benefits to Yuma County
DALLAS–(BUSINESS WIRE)–Leeward Renewable Energy (LRE), a leading renewable energy company, has signed a 15-year Long-Term Resource Adequacy Agreement with Pacific Gas & Electric Company (PG&E) for LRE’s 112.5-megawatt (MW) Sierra Pinta Energy Storage project in Yuma County, Arizona. Sierra Pinta, a standalone battery energy storage (BESS) facility, is adjacent to LRE’s 179-MW White Wing Ranch Solar project, which is currently under construction.
Sierra Pinta Energy Storage supports the continued deployment of renewable energy and is designed to meet the most stringent safety requirements. It will have a storage capacity of 450 MWh of clean power that can be dispatched during peak load times to meet demand. This storage capacity is equivalent to the energy needed to power over 90,100 U.S. homes1 for four hours. Given the interconnected nature of the electric system in Arizona and California, the Sierra Pinta project will advance the energy and grid resiliency objectives of both states.
“We are proud to partner with PG&E on this transformative project, supporting the transition to a cleaner and more reliable grid while bringing significant tax benefits to the community,” said Eran Mahrer, LRE’s Chief Commercial Officer. “Sierra Pinta Energy Storage expands our project footprint and further solidifies our commitment to the region. We look forward to continuing our long-term partnership with Yuma County and the local community as we develop and operate the project.”
Sierra Pinta Energy Storage is expected to create approximately 98 well-paying union jobs during peak construction and generate significant property tax and economic benefits for Yuma County. Construction of Sierra Pinta Energy Storage is expected to begin in September 2024, and the project is expected to be operational in the first half of 2025.
About Leeward Renewable Energy
Leeward Renewable Energy (LRE) is a high-growth renewable energy company building a sustainable future for all. The company owns and operates a portfolio of 32 wind, solar, and energy storage facilities across the United States, totaling approximately 3 gigawatts of generating capacity and is actively developing and contracting a robust pipeline of new renewable energy projects. LRE takes a tailored, full-lifecycle approach to its projects, which is underpinned by its long-term ownership model and purpose-driven culture that is dedicated to benefiting its community partners while protecting and enhancing the environment. LRE is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of the largest defined pension plans in Canada, with C$127.4 billion in net assets (as at June 30, 2023). For more information, visit www.leewardenergy.com.
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1 This figure is calculated using actual or projected data for Total Net Energy Generated or Stored [MWh], obtaining the relevant state-level average monthly residential energy consumption data from US EIA, making necessary unit conversions, dividing the data for total net energy in that year by the residential energy consumption to find the site’s equivalent homes powered calculation, and aggregating all site data across the relevant time span. For this calculation, LRE assumes energy consumption is consistent across the entire state. |
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