Colorado-Based Energy Company Looking To Build Battery Farm In Oologah

A Colorado-based energy company is asking Rogers County to help pay for a large 20-acre battery farm in Oologah.

Rogers County Commissioner Steve Hendrix said the board always strives to attract new businesses to Rogers County, but Project Olive is something they’ve never seen before.

“We’re very proactive in that and this is a little out-of-the-box endeavor,” Hendrix said.

The company wants the commissioners to create a Tax Increment Financing or TIF district to help pay for constructing the facility. A TIF is a tool local governments can set up to use property tax increases to fund projects they believe will benefit the public.

Project Olive aims to buy energy from utility companies, in this case, PSO, storing it in large batteries during low demand, then distributing it during peak usage when the demand is higher.

“Basically, a buy low, sell high concept for them to make money,” Hendrix said. 

While Hendrix said Peregrine Energy wouldn't offer any jobs to the community, he said the company would pay a lot in taxes to the county. He said it would also mean fewer power issues for homeowners. 

“Nobody likes brownouts during peak demand hours, this could solve some problems for the power companies,” he said. 

Despite seeing these benefits, Hendrix still has doubts. 

“There's no guarantee the longevity, even 15 years of this project, at least what I can see on paper right now,” he said. 

While it's all still in the early stages, Hendrix said the board plans on navigating this potential partnership carefully.

Hendrix says they plan on having committees do an in-depth review of the proposal and talk to tax attorneys to dive deeper into the nuts and bolts of the project before coming to any decision.

Peregrine Energy issued the following statement in August:

“Peregrine Energy Solutions works with communities to ensure they safely benefit from the many advantages brought by energy storage projects, including providing dispatchable power to homes and businesses, limiting power outages, and making electrical grids more reliable,” said Jake Hitchings, lead developer for the Olive project in Rogers County. “We met with Roger County Commissioners to introduce them to both the project and our company and look forward to continued conversations with county leaders and residents.”