Exelon Generation, RES Announce Development Of New Battery Storage Facility

Exelon Corporation (NYSE: EXC) and Renewable Energy Group Inc (NASDAQ: REGI) announced after Tuesday's market close they will jointly develop a 10 megawatt battery storage facility in Clinton County, Ohio.

Exelon will act as the storage facility owner and operator, while Renewable Energy will serve as the project developer and constructor. The project will be powered by Samsung SDI's battery energy storage system and will provide more than 16,000 high-power batteries.

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Upon completion of the project, Exelon will have a total battery storage capacity of approximately 20MW in its portfolio, 10 MW of which will come from the new project.

"Having constructed over 70 MW of energy storage projects with 140 MW of operational range throughout North America, RES is excited to work with Exelon to provide frequency regulation service to PJM," said Matthew Krivos, director, energy storage of RES. "We look forward to continuing to provide energy solutions to ensure longstanding benefits to the ever changing grid."

"Exelon continues to invest in new technologies, such as battery storage, to further diversify our generation portfolio," said Corey Hessen, vice president, Exelon generation development. "Exelon's deployment of battery storage technology provides customers and grid operators with innovative solutions to meet their technical requirements and enhance system reliability."