DOYLESTOWN, Pa., June 20, 2018 /PRNewswire/ -- Renewable Energy Aggregators (REA), pioneers in the development 100% renewable baseload electricity, announced a new streamlined path to market for their first two northeastern Pennsylvania projects. Recent orders of the Federal Energy Regulatory Commission (FERC) disclaimed licensing jurisdiction over these 500-megawatt projects, allowing them to proceed without the need to secure a federal license under the Federal Power Act. As a result, REA can bring the Pennsylvania Pump Storage and Old Forge Bore Hole Reclamation projects to market faster and at substantially lower cost.
REA's innovation is a unique approach to pumped-storage hydroelectric power. Their plans include creating facilities that exclusively use renewable energy to pump ground water from abandoned and flooded coalmines. FERC was able to issue a favorable order because REA's unique design uses no surface or otherwise navigable waters. The company has many additional pumped-storage projects in development to which the FERC orders may also apply.
REA's efforts will benefit host communities in important ways beyond providing renewable power, said company president Adam Rousselle. First, site development and operation will create quality jobs in areas that may be economically depressed due to the closure of the now-abandoned and flooded mines. Consequently, the projects enjoy substantial support in the host communities in which the flooded mines are located. Second, highly polluted mine water will be diverted from watersheds and purified before it can be used in the pumped-storage reservoirs and run through generators.
Each of REA's projects will offer unique value to renewable generation developers. This is true because they will create a 24/7 market demand for renewable generation. Whenever the wind is blowing, or the sun is shining the power being generated can be consumed by REA's pumped-storage system—even during night or mid-afternoon hours when electricity demand would traditionally be insufficient. By creating this demand, REA increases revenues to existing renewable generation facilities and stimulates further renewable generation development.
Founded in 2014, REA is a market leader in developing and bringing to market baseload renewable energy. For more information regarding the FERC orders that are paving the way for speedier and more economical development of the REA projects, read the news section of www.reaggregators.com.