The Calistoga Resiliency Center, the world’s largest utility-scale long duration energy storage project using both green hydrogen and lithium-ion battery technology, is one step closer to completion after receiving $28 million in financing by Eagle Point Credit Management.
Energy Vault is building the project, which will provide the California city of Calistoga with an alternate power source in the event of a public safety power shutdown when PG&E service is offline. The 293-MWh system is designed to provide 48 hours of continuous energy and a peak instantaneous power output of 8.5 MW. Energy Vault’s proprietary B-VAULT DC battery technology will work in conjunction with hydrogen fuel cells to provide instantaneous response and grid-forming capabilities. When Calistoga’s local microgrid is cut from the regional electrical network, the Calistoga Resiliency Center will utilize green hydrogen fuel cells to generate electricity, providing sustainable power to the local community.
“As we continue to see the rise of extreme weather events around the world, it is imperative we ensure communities have access to essential services during these times,” said Jennifer Powers, Principal and Head of Infrastructure Credit at Eagle Point.
Robert Piconi, Chairman and CEO of Energy Vault, added: “Our partnership with Eagle Point marks an important milestone for Energy Vault, as it validates the positive financial returns of the project as well as our ability to achieve attractive terms from a leading institutional credit provider with a robust understanding of the drivers in the energy transition and our value proposition in battery storage solutions.”
The City of Calistoga first explored building a microgrid in 2019, and Energy Vault started construction last year. The Calistoga Resiliency Center has achieved mechanical completion, and the system is now under commissioning and expected to reach full operation in Q2 2025.
News item from Energy Vault
