Nexus Renewables to Deploy 27MW/108MWh of Resource Adequacy via Behind-the-Meter Battery Energy Storage in California

Nexus Renewables, a Canadian based Startup, announces entry into California market, inking behind-the-meter energy storage deal with Pacific Gas and Electric (PG&E) (CNW Group/Nexus Renewables Inc.)

TORONTO, Dec. 23, 2020 /CNW/ - Nexus Renewables U.S. Inc. is pleased to announce an agreement with Pacific Gas and Electric Company (PG&E) whereby Nexus Renewables will service 100+MWh of Resource Adequacy needs in Northern and Central California through a fleet of behind-the-meter energy storage resources.

Nexus Renewables' energy storage fleet will serve three primary goals under a 15-year power purchase agreement (PPA) with PG&E:

• First, it will provide targeted local capacity and enhance grid reliability during peak periods.
• Second, as fast-acting stabilization devices, the portfolio will provide regulation services to improve the effective load carrying capacity from renewable resources that are otherwise intermittent.
• Finally, as behind-the-meter infrastructure, the fleet will help select commercial and industrial host sites realize bill savings and enjoy added resiliency benefits.

These battery energy storage assets will help the State of California in making its targets of 60 percent renewable energy penetration by 2030 and 100 percent by 2050, a reality.

"This is a significant milestone for Nexus Renewables, solidifying our presence as one of North America's fastest growing alternative energy providers. We are excited to collaborate with PG&E, one of North America's most progressive utilities, and address system reliability objectives within the State of California. Energy storage is quickly becoming the technology of choice to integrate renewables and we see ourselves best positioned to capture this market opportunity," said Keith Sandor, President at Nexus Renewables Inc.

The long-term PPA was awarded to Nexus Renewables as part of PG&E's 2020 System Reliability Phase 2 Solicitation.

PG&E submitted the agreement to the California Public Utilities Commission for approval yesterday.

"The next few years will be pivotal for the deployment and integration of utility-scale battery energy storage onto the grid. PG&E has awarded contracts for battery energy storage projects totaling more than 1,000 MW of capacity to be deployed through 2023, all of which contribute to meeting California's ambitious clean energy goals while ensuring grid efficiency and reliability, reducing the need to build additional fossil fuel generation plants, and keeping customer costs affordable," said Fong Wan, Senior Vice President of Electric Policy and Procurement at PG&E in a news release issued earlier today.

About Nexus Renewables Inc.  

Nexus Renewables Inc., a portfolio company of Nexus Energy Inc., is a turn-key developer, owner, operator of renewable energy infrastructure. Nexus Renewables is uniquely positioned with access to a 24/7 physical trading and dispatching desk. Through controlling the dispatch of renewable energy, Nexus Renewables actively manages infrastructure in a sector known for passive investment. For more information, visit www.nexusrenewables.ca.

SOURCE Nexus Renewables Inc.

Keith Sandor, President, [email protected]