(BRK.A), (BRK.B)
Berkshire Hathaway’s Nevada utility, NV Energy, has chosen Energy Vault Holdings, Inc., a leader in sustainable grid-scale energy storage solutions, to provide a 440 MWh Energy Storage System.
The Battery Energy Storage System (BESS), will be one of the largest in Nevada and is expected to start construction in Q2 2023 with commercial operation expected by the end of 2023.
The 220MW/440MWh grid-tied BESS will be deployed at a site located near Las Vegas. The 2-hour energy storage system is designed to store and dispatch excess renewable energy, including wind and solar power.
The BESS will be charged and discharged on a daily basis and designed to dispatch stored renewable energy at peak consumption hours to help meet the high demand during Nevada’s peak load hours.
“Energy Vault is pleased to be selected by NV Energy for a mission critical project supporting Nevada’s largest electric provider in achieving its goal of net zero emissions by 2050,” said Marco Terruzzin, Chief Commercial and Product Officer, Energy Vault. “This is Energy Vault’s first public utility customer for our short duration energy storage solutions, which furthers our strategy to be the energy storage company of choice for utilities, IPPs and large energy users. We look forward to beginning our relationship with NV Energy to help them meet their IRP needs for both short and long duration energy storage.”
© 2022 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.