Luyster Creek Energy Storage Projects at Astoria Generating Station Critical to Meeting New York’s Clean Energy Goals
Applications will also be made for Gowanus and Narrows stations
NEW YORK, June 22, 2022 /PRNewswire/ — Eastern Generation, LLC (“Eastern Generation”), a subsidiary of ArcLight Capital Partners, LLC (“ArcLight”), announced that the NYPSC has approved its application for a Certificate of Public Convenience and Necessity (” CPCN”)) – a permit required to construct energy storage at the Astoria Generating Station as part of the Luyster Creek Energy Storage Project. The Astoria batteries, which are being developed by Astoria Generating Company, a subsidiary of Eastern Generation, will provide over 135 MW of energy storage when complete. Eastern Generation owns power plants that represent more than 18% of New York City’s power generation capacity.
Energy storage projects are needed to improve the flexibility and reliability of the electrical system as New York City transitions from dispatchable fossil fuel generation to offshore wind and other intermittent renewable resources. The Luyster Creek energy storage projects will help maximize the energy that renewables can supply to the system and reduce reliance on capacity provided by existing fossil fuel generation.
“The Luyster Creek projects can be fully operational as early as 2025 if market conditions allow and appropriate economic investments are made by the state,” said Mark Sudbey, CEO of Eastern Generation. “Eastern Generation is ready to help Governor Hochul and New York achieve its ambitious goal of at least 6,000 MW of energy storage by 2030,” said Dan Revers, Managing Partner of ArcLight.
Eastern Generation is expected to submit CPCN applications for additional storage projects at its Gowanus and Narrows stations, which will provide a combined 350 MW when fully operational. All three battery projects are located within existing power generation facilities, which are industrially zoned away from residential communities and have established power grid connections.
ArcLight is a leading private equity firm focused on energy, infrastructure and energy transition, with a successful long-term track record. Founded in 2001, the firm helped pioneer an asset-based approach to investing across the energy, renewables, infrastructure and broader energy value chain. Since then, ArcLight has invested approximately $26 billion in 116 transactions, including more than $10 billion in equity in the electrification segment, which includes investments in power, transmission, renewable infrastructure and energetic transition. Through its extensive infrastructure portfolio, ArcLight is focused on providing decarbonized energy solutions with a strong ESG focus. Based in Boston, the firm’s investment team employs a value-added investment approach that benefits from its dedicated in-house technical, operational and business specialists and partners, as well as the asset management subsidiary of approximately 1,800 people in the company. For more information about ArcLight, visit www.arclight.com.
ContactCathy Rought, [email protected]202-263-9097
View original content to download multimedia: https://www.prnewswire.com/news-releases/arclights-eastern-generation-gets-green-light-from-state-for-clean-energy-storage-in-astoria -301573439.html
SOURCE Oriental Generation