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Arevon Starts Construction of $600-Million Cormorant Energy Storage Project [Yahoo! Finance]

Primoris Services Corporation (PRIM) 
Last primoris services corporation earnings: 2/25 06:30 am Check Earnings Report
US:NASDAQ Investor Relations: investor.primoriscorp.com
Company Research Source: Yahoo! Finance
Arevon Energy on March 24 said it has begun building the 250-MW/1,000-MWh Cormorant Energy Storage Project in Daly City. The company said the $600-million installation is expected to enter commercial operation next year. The project's design has been expanded from its original 188 MW/752 MWh. The project's power generation is contracted under a long-term offtake agreement with MCE , an electricity provider serving more than 1.8-million customers across Contra Costa, Marin, Napa, and Solano counties. The Cormorant installation will use lithium iron phosphate (LFP) battery technology. Primoris Services Corp.'s Renewables group is the engineering, procurement, and construction contractor. The project at peak construction is expected to employ about 175 workers. Cormorant over its lifetime is expected to generate more than $73 million in property tax revenue that will help fund schools, infrastructure improvements, and public services in the region, according to Arevon. “The start of cons Show less Read more
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