November 2 (Renewables Now) - US utility Portland General Electric Co (NYSE:POR), or PGE, intends to spend up to USD 100 million (EUR 85.8m) on a plan to add 39 MW of energy storage capacity, it said last week.
The investment initiative is pinned at between USD 50 million and USD 100 million, the company said during its third-quarter earnings call.
Proposals for one or more energy storage projects will be filed with the Oregon Public Utility Commission (PUC) by the start of January 2018. More details about the plan will be provided later this month when PGE submits an initial proposal, Steve Corson said, as cited by the Portland Business Journal.
The proposed storage will exceed the capacity that the company is required to have under a 2015 energy law in Oregon. According to state regulations, each of the large local utilities, PGE and PacifiCorp, is required to have at least 5 MWh of energy storage in service by the start of 2020. The mandate is capped at 1% of a utility’s peak load in 2014, which for PGE stood at 3,866 MW.
(USD 1.0 = EUR 0.858)