NEW YORK, Oct. 21, 2019 /PRNewswire/ -- New York has taken a significant step toward achieving its Clean Energy goals with the Public Service Commission's (PSC) key approval for a major energy storage project proposed for New York City.
On October 17, 2019, the PSC granted a Certificate of Public Convenience and Necessity (CPCN) for LS Power's proposed 316-megawatt battery energy storage project at the Ravenswood Generating Station in Long Island City. Additionally, the Ravenswood storage project was accepted in the New York Independent System Operator (NYISO) 2019 interconnection facility study process, and is therefore well positioned to be able to meet a 2022 in-service requirement.
As noted by the U.S. Energy Information Agency in July 2019, utility-scale battery energy storage capacity in the U.S. has more than quadrupled from the end of 2014 (214 MW) through March 2019 (899 MW). LS Power has been at the forefront of this progress, and currently has a series of projects ranging from 40 MW to 250 MW in California, both operating and under construction/development.
When fully constructed, the Ravenswood battery energy storage project will represent over 10% of the state's ambitious storage goal of 3,000 megawatts by 2030 and mark New York as one of the nation's leaders in large-scale battery storage.
"LS Power is extremely pleased to have received this positive ruling from the New York PSC and appreciates the confidence it displays in our organization and our ability to complete this transformative project for New York's electricity grid," said Mike Vogt, Vice President of Project Development at LS Power.
"With this key approval in hand, we look forward to moving to the next important step in this project, which includes submittal of a solid battery energy storage system proposal to Con Edison in response to their RFP. The Ravenswood Generating Station Battery Energy Storage Project was designed to support the regional growth in renewables over the next decade and we look forward to working with Con Edison and New York to achieve their goals."
In July 2019, Con Edison issued Request For Proposals for 300 megawatts of battery energy storage following an order from the PSC, with a requirement to be operational by December 31, 2022. Battery energy storage will be increasingly important for New York as it advances toward its Clean Energy Standard, which mandates that, by 2030, seventy percent of New York's electricity is to come from renewable energy sources.
The New York City Mayor's Office of Sustainability also voiced its support for the Ravenswood Storage Project, noting in accompanying documents to the project's July 2019 CPCN petition that its benefits included (i) ensuring reliability, (ii) replacing old fossil fuel peaker units, (iii) enhancing resiliency, and (iv) achieving public policy goals.
About LS Power:
Founded in 1990, LS Power is a privately owned, independent power company with offices in New York, New Jersey, Missouri, California and Texas. LS Power is a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States. Since inception, LS Power has developed, constructed, managed or acquired more than 41,000 MW of competitive power generation and 630 miles of transmission infrastructure, for which it has raised over $40 billion in debt and equity financing. For more information, please visit www.LSPower.com
SOURCE LS Power