The Eland project is being implemented in two phases. Phase I, which reached commercial operation at the end of last year, comprises 384MW of PV and a 150MW/600MWh battery energy storage system (with a four-hour energy storage capacity). Phase II, which commenced last week, adds 374MW of PV and a 150MW/600MWh battery energy storage system, matching the specifications of Phase I.

The scale of investment in this project is remarkable, with total private capital investment exceeding US$2 billion. For Phase II alone, US$1.1 billion was successfully raised in February 2024, including tax equity and debt financing, providing solid financial support for project construction.

The Eland project has partnered with several organizations to purchase electricity. Among them, a 25-year power purchase agreement has been signed with the Los Angeles Department of Water and Power, a state-owned enterprise. LADWP CEO Janice Quinones noted that the project, leveraging the lowest solar and storage costs, will provide the department's customers with more economical electricity bills. Furthermore, the Southern California Public Power Authority and its member Glendale Hydropower have also participated, purchasing 12.5% of Eland's first phase electricity generation.

The completion of the Eland project is of great significance to Los Angeles' energy transition. Los Angeles Mayor Karen Bass stated that it brings the city's clean energy share to over 60%. Arevon emphasized that the project alone can meet 7% of Los Angeles' electricity needs.

During the project construction process, all parties worked together. SOLV Energy was responsible for engineering, procurement, and construction, and the US company Nextracker provided solar trackers, providing strong support for the smooth progress of the project.

Notably, with the full operation of the Eland project, Arevon's total operating renewable energy capacity has exceeded 3.7GW , further solidifying its market position in the renewable energy sector. The successful commissioning of this project not only injects new impetus into California's clean energy development but also provides a valuable model for the development and operation of integrated solar-plus-storage projects.