Release March 24, 2026 Arevon Begins Construction on $600 Million Cormorant Energy Storage Project in California Cormorant advances local economic investment through jobs, tax revenue, and community…

Key metadata

Signal ID

289c47acf269dd851374

Signal type

construction

Source category

developer

Source

Arevon

Published at

2026-03-24T12:51:35Z

Original source

Arevon

Summary

Arevon Energy, Inc. announced on March 24, 2026, the start of construction for its $600 million Cormorant Energy Storage Project in Daly City, California. This 250 MW/1,000 MWh battery storage facility is expected to become operational in 2027. Arevon will own and operate the project, which has a long-term offtake agreement with MCE, an electricity provider in California.

Why it matters

The commencement of construction for a large-scale battery storage project indicates a significant commitment of capital and resources. This milestone suggests the project has progressed beyond planning stages, potentially signaling future revenue streams for Arevon and enhanced grid reliability for MCE's service area.

Source excerpt

Cormorant advances local economic investment through jobs, tax revenue, and community partnerships, reinforcing Arevon’s position as a leading battery storage developer in the state. DALY CITY, Calif. and SCOTTSDALE, Ariz. (March 24, 2026) — Arevon Energy, Inc. , a leading American energy developer, owner, and operator, today announced the start of construction on its 250 megawatt (MW)/1,000 megawatt-hour (MWh) Cormorant Energy Storage Project in Daly City, California. Once operational in 2027, the $600 million facility will be capable of powering approximately 321,000 homes for up to four hours, strengthening grid reliability by delivering stored electricity during periods of peak demand. Arevon will own and operate Cormorant Energy Storage, which is under a long-term offtake agreement with MCE, an electricity provider that serves more than 1.8 million residents and businesses across…