ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

EDF Renewables North America and Arizona Public Service Energy Storage Power Purchase Agreement

EDF Renewables North America has secured a 20-year Energy Storage Power Purchase Agreement (PPA) with Arizona Public Service (APS) for the Beehive Battery Energy Storage System. Located in the City of Peoria, Maricopa County, Arizona, the stand-alone battery energy storage system (BESS) will have capacity of 250 MW/4-hour duration.

Beehive BESS expects to start construction in 2025, and will consist of lithium-ion battery enclosures, inverters, transformers, and substation. The facility, designed to receive energy from the power grid when renewable penetration is high, will store the electricity in a series of batteries until electrical power is needed by the grid at peak hours, at which time the energy is released back into the power grid for consumption to help manage APS’s growing energy and capacity demand.

Beehive is expected to reach commercial operational in 2026 with 1,000 MWh of total energy output. The project represents EDF Renewables’ second stand-alone storage project demonstrating commitment to innovation and expansion of its expertise in BESS technology.

“EDF Renewables recognizes the essential role of storage technologies for utilities like APS in facilitating the broader deployment of utility-scale renewables,” said Dai Owen, Senior Vice President, Origination and Power Marketing for EDF Renewables. “As a complementary market to our core renewable generation business, storage has become increasingly significant. By adding Beehive to APS’s already diverse power supply, it will be better equipped to provide reliable, affordable and cleaner energy to its customers, even in the absence of sunlight. This reinforces EDF Renewables’ commitment to maximizing renewable energy's potential and fostering the acceleration of the energy transition, contributing to the decarbonization of the economy.”

Brian Cole, APS Vice President of Resource Management, commented, “We are incorporating a range of technologies and innovations as part of APS’s balanced energy mix to maintain reliability and affordability on the path to a cleaner energy future for our customers. Storage systems, including the Beehive project, give greater flexibility in meeting customer’s energy needs, enabling us to continue integrating variable sources, like solar, into the energy grid.”

EDF Renewables, one of the largest renewable developers in North America, is committed to providing solutions to meet our customer’s carbon-reduction goals. With over 35 years of experience and 18 gigawatts of wind, solar, and storage projects developed, EDF Renewables provides integrated energy solutions from grid-scale power to electric vehicle charging.

About EDF Renewables North America

EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distribution-scale power: solar and storage; asset optimization: technical, operational, and commercial expertise to maximize performance of generating projects, and onsite solutions, through the Company’s PowerFlex subsidiary, offering a full suite of onsite energy solutions for commercial and industrial customers: solar, storage, EV charging, energy management systems, and microgrids. EDF Renewables’ North American portfolio consists of 18 GW of developed projects and 14.6 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renewables, the dedicated renewable energy affiliate of the EDF Group. For more information visit: www.edf-re.com. Connect with us on LinkedIn, Facebook and Twitter.

Contacts

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.