(Bloomberg) PG&E Corp. said it has reached agreements to install nine new battery energy storage projects as part a push to replace a retiring nuclear power plant and help decarbonize California’s power grid.The proposed projects would have a total capacity of about 1,600 megawatts, which would bring its total battery energy storage capacity to more than 3,300 gigawatts by 2024, PG&E said in a statement Monday after the close of regular trading. The new supply agreements are with storage developers including subsidiaries of NextEra Energy Inc., Vistra Corp. and Terra-Gen LLC.
The contracts will still need to get state regulatory approval, PG&E said.
The announcement comes after California regulators last year ordered the state’s three big investor-owned utilities to add 11.5 gigawatts of new electricity resources to support the state’s greenhouse gas reduction plans.
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