Strata Solar has completed pre-construction development of its landmark battery project, Ventura Energy Storage (VES), a 100-megawatt, 400-megawatt hour battery energy storage system in unincorporated Ventura County, California.
The project, developed by Strata, has awarded an Engineering, Procurement and Construction (EPC) contract to Tesla for the Megapack battery system. Construction is scheduled to start in July 2020.
Strata Solar’s Ventura Energy Storage project was competitively selected by Southern California Edison (SCE) for a 20-year Power Purchase Agreement (PPA) in April 2019 to supply local capacity. The California Public Utilities Commission (CPUC) unanimously approved the PPA in December 2019.
“This precedent setting project is a testament to Strata Solar’s twelve years of success in the energy industry and our commitment to battery storage development as a core business line. We focus on smart development, value for our customers and strong returns for our investors with a team that has the experience to deliver market-leading results.”Strata’s founder and CEO Markus Wilhelm.
The project recently completed entitlements and finalized all necessary commercial agreements. Equity interest in the project is scheduled to close in the second quarter.
“Ventura County has been an incredible partner on this project. We’d like to thank the County leadership, Planning Department staff and all the other agencies, including the City of Oxnard, for the support and efficient review of the project. Your leadership is leading the way to a clean energy future.”Josh Rogol, SVP of Development at Strata Solar.
Ventura Energy Storage will provide reliable on-demand power with no emissions to approximately 80,000 homes and businesses. In addition, more than $3 million in new sales and use tax and more than $9 million in new property taxes will be generated by the project.
“I’m excited to see this project moving forward. Given the disruptions taking place during this time, Planning Department staff has done a great job, approving the project during the County’s first virtual Planning Administrative Hearing. The project will help to ensure local energy reliability, and in the event of a Public Safety Power Shutoff the facility will convey stored energy to the grid, providing power to our local homes and businesses. This will help keep the lights on when some need it most. We appreciate these types of projects especially as we adopt strategies to stimulate our local economy following the economic impacts of COVID-19.”Mike Powers, Ventura County CEO.
Developed on a brownfield site in a private industrial park, the Ventura Energy Storage project is sited away from residences and in close proximity to a critical transmission line, which provides backbone power for much of western Ventura County. The project also co-invested in modernizing the local water system to support area fire prevention and additional business growth.