Two utility-scale battery energy storage systems delivering a total of 20 MW of power and 80 MWh of storage are now online along Virginia’s eastern shore.
Financed by Climate First Bank and developed by Patterson Enterprises in partnership with battery manufacturer Great Power, the investment will boost the region’s grid resilience 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 monetizes through energy arbitrage, storing electricity when supply is abundant and releasing it during peak demand.
“In all our years of doing business, we have never been involved in projects more important — or more 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 intensify as industries evolve and power consumption rises to meet growing demand. We are deeply passionate about the work we’re doing and are proud to partner with a forward-thinking institution like Climate First Bank, which shares our commitment to a sustainable energy future.”
The projects will help prevent blackouts and brownouts during peak usage, reduces electricity rate volatility for residents and businesses and provide voluntary donations to localities and local charitable organizations totaling $200,000.
News item from Climate First Bank
Tell Us What You Think!