Renewables developer Recurrent Energy has secured $500 million in financing to develop a battery storage project in Arizona.
The Papago Storage project will set up a 1,200 MWh battery – the largest in Arizona – and supply renewable energy to roughly 244,000 homes for four hours a day once complete.
Construction will begin in the third quarter of this year, the company estimates. Recurrent Energy is a subsidiary of Canadian Solar, which also owns battery company e-STORAGE.
Ismael Guerrero, CEO of Recurrent Energy, told media outlet Electrek: "When we began developing Papago Storage in 2016, the Arizona storage market was in its infancy."
"Today, Arizona is one of the fastest-growing markets for energy storage in the US, bolstered by the state's expanding economy and cost-effective renewable energy resources."
Renewable energy sources are the lowest-cost generators of power, but require an energy storage component because of the intermittency of their output. Solar is most effective during noon, but fades out at night. A similar story repeats itself with wind, with output often highest when the sun is at its strongest.
Arizona is attracting battery storage investment, long the preserve of California and Texas in the USA. Earlier, state-based utility Salt River Project announced it had entered into an agreement with Aypa Power to set up a 250 MW / 1,000 MWh Signal Butte BESS that will connect to the Arizona grid.