COUGAR STORAGE (CAISO-1932) — Project Summary

Queue ID
CAISO-1932
Capacity
203.699 MW
Technology
Battery
Status
active
Location
Merced, CA
Region
CAISO
Developer
IA Status
IA Executed

COUGAR STORAGE

CAISO-1932BetaActiveBatteryCAISOLBNL + Live

203.699 MW storage in Merced, CA · In queue since April 2021 · Proposed COD September 2030

BA: CISOISO/RTO: CAISONERC: WECCRC: RCW

203.699 MW

Capacity

1

Components

Battery

5y 3m

In Queue

IA Executed

IA Phase

Signed Dec 2024

Interconnection

Queue → IA

3y 8m

IA → COD

5y 9m

Total Duration

3y 8m

Study Phase

C14

Construction75%
Queue EntryApr 15, 2021

Interconnection request submitted to ISO/RTO

Cluster Study (Phase I/II)

CAISO uses cluster studies where projects are batched annually and studied together.

Typical: 36–48 months (IR to IA)

Interconnection AgreementDec 23, 2024

Interconnection agreement executed — binding commitment to build

Typical: 30–60 days (negotiation)

ConstructionCurrent

Project under construction

Typical: 6–18 months

Commercial Operation

Proposed COD: 2030-09-19

Cross-source intelligence
Beta
Low confidence·4 sources·as of 2026-06-01
Expected COD
2030
From queue filing
Developer
New Leaf Energy
From queue filing
Status
Active
Active — IA executed December 2024, no construction timeline announced publicly
Financing
Unannounced
Key milestones
IA executedDec 23, 2024Most recent

Interconnection Agreement executed with CAISO

source
About

COUGAR STORAGE is a proposed 203.7 MW battery storage project located in Merced County, California. The project is in the California Independent System Operator (CAISO) interconnection queue as entry CAISO-1932, with a queue entry date of April 15, 2021. The proposed commercial operation date is September 19, 2030, and the Interconnection Agreement (IA) has been executed.

The project, which is interconnected with Pacific Gas and Electric (PGAE) at the Wilson 115 kV point of interconnection, has been featured in recent industry news.

Generated from interconnection queue and public data sources

Development Risk

Realization risk from now to commercial operation — financing close, EPC and tax-equity counterparty mix, and COD probability vs the proposed date. The diligence view that determines whether the deal actually closes. Powered by InfraSure's development-stage modeling stack.

Available on the InfraSure platform

See the full development-risk decomposition for this project.

P(COD by stated date)
Financing close probability
EPC + tax-equity counterparty
Project Details

State

CA

County

Merced

Grid Region

CAISO (California)

Market

ISO/RTO Member

Developer

Utility

PGAE

Entity

CAISO

Service Type

NRIS

Point of Interconnection

Wilson 115 kV

Data Source

LBNL + Live

Risk Analytics

Composite operating-phase risk view — what this asset's risk profile will look like once it commissions. Climate hazards across its operating life, expected generation variability, and offtake counterparty exposure, decomposed into a single decision-grade score. Powered by InfraRisk.

Available on the InfraSure platform

See the full risk decomposition + scenarios for this project.

Climate hazards (8+)
Generation variability (P10/P50/P90)
Offtake + transmission counterparty
Generation Forecast

Forward generation outlook — first-year production estimate and 10-year P50 trajectory, with probabilistic ranges (P10/P50/P90) across weather, demand, and policy scenarios. Powered by InfraSure's generation modeling stack.

Available on the InfraSure platform

See the full forecast + scenario decomposition for this project.

10-year P50 forecast
First-year output estimate
Weather + policy scenarios
Financial Forecast

Forward revenue, DSCR projection, and financing-close risk — conditioned on commercial operation. First-year DSCR, 10-year cashflow, and counterparty exposure across price and policy scenarios. Powered by InfraSure's asset cashflow stack.

Available on the InfraSure platform

See the full revenue + DSCR projection for this project.

10-year revenue projection
First-year DSCR
Financing close risk
Market Context
Approximate
ISO / RTO
CAISO
Trading Hub
TH_ZP26_GEN-APND
Hub Confidence
MEDIUM
POI Substation
Wilson Substation

This project's market context is estimated from its Point of Interconnection. Hub and node assignments are approximate and based on geographic inference from the POI substation name.

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Forward forecasts, scenario decomposition, and risk-decision tooling for this queue project.