FinancingUnder ConstructionMarch 24, 2026

Cormorant Energy Storage Project — 250 MW / 1,000 MWh LFP battery storage, Daly City, California

Arevon Energy breaks ground on the $600M Cormorant Energy Storage Project (250 MW / 1,000 MWh LFP) in Daly City, CA. Long-term offtake contracted with MCE (serving 1.8M+ Bay Area residents across Contra Costa, Marin, Napa, and Solano counties). EPC: Primoris Services. COD targeted 2027. Project expanded from original 188 MW / 752 MWh design; full expanded capacity also contracted with MCE. Arevon CEO Justin Johnson leads the company following Kevin Smith's departure to Cypress Creek Renewables.

$600M

Deal Value

250MW

Capacity

1,000MWh

Storage

Storage

Technology

CA

Location

Deal Details

Deal Type
Project Finance
Seller / Sponsor
Arevon Energy
Buyer / Financier
MCE (Marin Clean Energy)
Offtaker
MCE (Marin Clean Energy)
Deal Value
$600M
Stage
Construction
ISO/RTO
CAISO

Service Providers

Advisory & Legal

epc
Primoris Services Corporation

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