Two large-scale battery energy storage systems providing a total of 20 MW of power and 80 MWh of storage are now online along the eastern coast of Virginia.
Funded by Climate First Bank and developed by Patterson Enterprises in partnership with battery manufacturer Great Power, the investment will increase the resilience of the region’s electricity grid and community sustainability in the towns of Exmore and Tasley.
The LiFePO4 BESS projects support Virginia’s Clean Economy Act goal of 100% clean energy by 2050 and generate money through energy arbitrage, storing electricity when supply is plentiful and releasing it during peak demand.
“In all our years of doing business, we have never been involved in projects more important – or exciting – than those in battery energy storage,” said Harold Patterson, CEO of Patterson Enterprises. “The U.S. electric grid needs energy storage now more than ever, and that need will only increase as industries evolve and energy consumption increases to meet growing demand. We are deeply passionate about the work we do and are proud to partner with a forward-thinking institution like Climate First Bank, who shares our commitment to a sustainable energy future.”
The projects will help prevent blackouts and brownouts during peak usage, reduce electricity rate volatility for residents and businesses, and provide voluntary donations to localities and local charities totaling $200,000.
News item from Climate First Bank
