Supervisors Pass $77 Million Eagle Crest Energy Community Benefits Plan

RIVERSIDE – The Riverside County Board of Supervisors today approved an agreement with Eagle Crest Energy Company that would provide $77 million of community benefit payments to the county as part of the future Eagle Mountain Pumped Storage Project near Desert Center.

The Eagle Mountain Pumped Storage Project, funded entirely by Eagle Crest Energy, plans a 1,300-megawatt pumped storage hydroelectric facility at the Eagle Mountain Mine. The project would use reservoirs created from two mining pits to pump water from the lower reservoir to the upper reservoir during periods of low energy demand and discharge water to the lower reservoir to generate electricity during periods of high demand.

The project, which has received federal approval in consultation with state and local agencies, is one of the nation’s largest investments in clean, reliable energy. The $77 million community benefits plan will deliver direct contributions to the county, with $7.5 million at the start of construction, $5 million when completed and annual payments over 60 years of operation.

The project is estimated to start construction in 2028.

“This is a milestone project for the Fourth District and for Riverside County,” said Supervisor V. Manuel Perez. “This project repurposes long-disturbed lands previously used for iron ore mining and turns it into a hydroelectric project, storing and producing new clean energy. This is a historic investment in our communities. The financial commitment by Eagle Crest Energy on this privately funded project will yield tremendous benefits to the community for decades to come.”

Eagle Mountain Pumped Storage is projected to provide over $1.9 billion in new property tax revenue to the county over the life of the project, which will make the project one of Riverside County’s largest property taxpayers. Additionally, the facility is expected to create $2.3 billion in savings to California power customers over the first 30 years of operation.

“We are excited to be celebrating this milestone and to be a part of the Riverside County community now and into the future,” said Kerry Hattevik with Eagle Crest Energy. “As we continue to bring Eagle Mountain Pumped Storage closer to construction, the project is delivering on the promise of lowering carbon emissions and driving down the cost of energy. This long-term cooperative agreement is exactly how we strive to support our neighbors and the communities we work within.”

During construction, the project is estimated to create 4,500 jobs and yield $340 million in annual total economic production for Riverside County. Once operational, annual economic production stemming from the facility is projected to reach $27 million.