Key points:

Cost of the project: $63 million

24 Megapacks installed on land owned by Chugach Electric Association, with Matanuska Electric Association as a 25% owner

Estimated cost savings over 15 years: approximately $121 million

Battery system scheduled to be fully operational in October 2024

Batteries have a capacity to generate 40 MW of power for two hours

Equivalent to around 15% of Chugach’s power demand during the summer

Previous Megapack project in Alaska on the Kenai Peninsula resulted in substantial savings and reduced natural gas consumption by approximately 10%