Utility and power generation firm Vistra will write down the value of its Moss Landing BESS to the tune of US$400 million in depreciation expense, its entire remaining book value.
We caught up with a partner at insurance broker Lockton about recent developments in the space, including the ramifications – or lack thereof – of the recent Moss Landing fire on insuring BESS projects going forward.
In the wake of the Moss Landing Energy Storage Facility fire, regional and state-wide California authorities have proposed or passed legislation tightening control of BESS projects.
A fire broke out at an under-construction BESS project in Essex, England, on 19 February and was brought under control and then handed back to site management a day later.
The Board of Supervisors (BoS) of Orange County, California, has enacted an emergency moratorium on the approval of any new BESS facilities proposed for unincorporated areas of the county in order to protect the “health, safety and welfare” of its residents.
A fire broke out yesterday (16 January) at the Moss Landing facility which houses what was once the world’s largest BESS, owned by Vistra Energy, in California, US.
Specialist renewable energy insurance company kWh Analytics considers thermal runaway to still be the single most important risk that energy storage system developers must consider.
