New York PSC approves construction of $160 mln battery-based storage facility
Oct 12 (Reuters) - The New York State Public Service Commission (PSC) on Thursday approved construction of $160 million dollar battery-based energy storage facility in Brookhaven, a city in New York's Suffolk County.
An independent developer of battery storage projects, Holtsville Energy Storage will construct the facility expected to be operational by 2025.
The project is supposed to generate local property tax revenues along with up to 200 local jobs during construction, plus some long-term jobs once it is operational, the developer said.
The PSC also found that the project would help advance environmental justice goals by reducing reliance on older oil- and natural gas-fired plants in New York State.
Battery energy storage facilities can also lead to long-term cost savings for electricity consumers by lowering the overall cost of providing electricity and by allowing customers to avoid paying premium pricing or peak-demand rates.
On January 5, 2022, New York Governor Kathy Hochul announced plans to double the state’s energy storage target to at least 6 gigawatts (GW) by 2030.
(Reporting by Daksh Grover and Rahul Paswan in Bengaluru; editing by Diane Craft)
