General Electric To Build Battery Energy Storage System Near San Diego

By Tomi KilgoreMarketWatch Pulse

General Electric Co. said Thursday that it will build a 30-megawatt battery energy storage system in California's Imperial Valley, which is about 100 miles east of San Diego. The system will be built for Coachella Energy Storage Partners (CESP), as part of CESP's contract with the Imperial Irrigation District. The facility is expected to boost grid flexibility and reliability by providing solar ramping, frequency regulation and power balancing. "We chose GE as the energy storage system provider for this project because they supplied the most comprehensive solution at a competitive price," said CESP President Mike Abatti. Construction of the system is expected to begin early next year, with the aim of the system becoming operational in the third quarter of 2016. Financial terms were not disclosed. GE's stock, which slipped 0.7% in premarket trade, has gained 1.8% year to date, while the Dow Jones Industrial Average has lost 2.7%.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below