ReVolve Renewable Power provides a development update on its 80mwh/20MW vernal battery storage project in the US.
Revolve Renewable Power Corp. (TSXV: REVV) (“Revolve” or the “Company”) provides an update on the ongoing development activity of its 80MWh/20MW Vernal Battery Storage project (the “Vernal BESS Project”) This news release is the latest or in a series of updates that the Company will provide to its Utility Scale development portfolio in the US.
Vernal Project Summary
The Vernal BESS Project is an 80MWh / 20MW battery storage project, located on a 47-acre parcel of land wholly owned and managed by the State Land Trust (the “State Trust”) in Uintah County, 4 miles north of Vernal, Utah.
The project is the Company’s first stand-alone battery storage project under development in the US, which is a fast-growing segment of the country’s energy market.
The project area already benefits from excellent access via the existing local road network and proximity to existing transmission infrastructure.
The Company is planning a very active work program during 2023 and is targeting an RTB (ready to build) date of 2024 for the Vernal BESS Project.
Steve Daltonthe Revolve CEO commented:
We are excited about the progress made on the Vernal BESS battery storage project, our first battery storage project in our US utility scale portfolio.
“We look forward to working towards some important project milestones in the course of next year ahead of a target ready to build status in 2024”
Points of Improvement
The Vernal BESS Project development activity began in May 2021 with the submission of an application to lease the project site from the State Trust of Utah. This is followed by the submission of the interconnection and scoping application for the approval required for the project.
- Site control – After completing the application process signed a lease agreement with the State Trust in January 2022, which allows for the development, construction and long-term operation of the Vernal BESS Project. The current hectare under contract is 47 hectares although the final project site is expected to use a smaller footprint.
- Interconnection – the Vernal BESS Project is conveniently located less than half a mile from the area’s existing transmission network. In May 2022 the company applied for an interconnection with Pacificorp the transmission system operator / owner of the interconnection infrastructure located next to the project site as part of their 2022 Cluster 2 study.
- The results of this first phase of the study process were recently received by Revolve and they are currently being assessed together with the Company’s technical advisers. Based on the analysis to date, the Company hopes to advance the project to the next stage of the study process in early 2023.
- authority – The permitting requirements for a battery storage project are generally less onerous than those required for a wind or solar energy project and the timeline is also expected to be shorter. The Company engaged Wood Group to prepare a permit matrix and timeline for the project. The authorization to work on the project will start in Q1 2023 based on this matrix and it is estimated that it will take up to eighteen months to achieve full approval as the relevant authorities support the project.
2023 Development Activities
The company plans to increase project development activity in 2023, with a particular focus on:
- Interconnection – completion of Pacificorp’s Phase Two study and subject to the results of this study the company will proceed to the next phase of the interconnection process.
- Environmental & Permit – began work on preparing applications for state and local county permits needed for the project. This includes the completion of a development plan for the project, a cultural resources survey and report, a conditional use permit and easements/permits required for the short transmission line to be built to connect to the nearest substation.
- commercial – the Company is also actively following the All-Source Request for Proposal (“RFP”) issued by Pacificorp in April of this year. The RFP targets 1,945MW of new wind, solar and battery storage capacity to help Pacificorp meet the goals outlined in its 2021 Integrated Resource Plan (“IRP”).
Submissions to this RFP are due in Q1 2023 from projects that will achieve a commercial operation date of December 31, 2026. More information about this RFP can be found at: https://www.pacificorp.com /content/dam/pcorp /documents/en/pacificorp/suppliers/rfps/pacificorps-2022-all-source-request-for-proposals/PacifiCorp_2022AS_RFP_Main_Document.pdf
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Revolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar and battery storage projects in the US and Mexico with a portfolio of c.3,600MW under development.
The Company has a second division, Revolve Renewable Business Solutions that installs and operates sub 20MW “behind the meter” distributed generation (or “DG”) assets. Revolve Renewable Business Solutions currently has an operating portfolio of 2.85MW with an additional 6.2MW under construction phase.
Revolve has an accomplished management team with a demonstrated track record of taking projects from “greenfield” to “ready to build” (or “RTB”) status and successfully completing project sales to large operators of utility-scale renewable energy projects. To date, Revolve has developed and sold over 300MW projects.
Going forward, Revolve is targeting 5,000MW of utility-scale projects under development in the US and Mexico, and is also rapidly growing its portfolio of DG (distributed generation) assets. property.
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Revolve Provides Progress Update on its 80MWh/20MW Vernal Battery Storage Project in the US, VANCOUVER, BC, November 22, 2022