Largest energy storage installation in New York State completed
New York State officials announced the completion of the largest energy storage installation in the state, which will enhance grid performance and reliability and reduce greenhouse gas emissions.
The 20-megawatt Key Capture Energy storage system, located in the Albany area, supports Gov. Andrew Cuomo’s Green New Deal, which sets an energy storage target of 3,000 megawatts by 2030 for the state.
“Governor Cuomo has set New York on a path to lead the country and the world when it comes to deploying clean energy, and this project is more evidence that New York is not wasting any time getting started. This first project under NYSERDA’s energy storage incentive program – the largest battery installation in the state to date—will enhance our electric system and demonstrate the value of large scale energy storage systems that will accelerate our ability to meet the state’s commitment to a carbon-free electric system by 2040,” Alicia Barton, president and CEO of the New York State Energy Research and Development Authority, said.
Key Capture Energy relocated its headquarters from Houston, Texas to Albany in 2018 through a partnership with the University at Albany and the state’s START-UP NY program. Since joining START-UP NY, Key Capture Energy has more than doubled the size of its team to advance the development of the company’s portfolio of utility-scale battery storage projects in New York.
“The University at Albany wishes to congratulate Key Capture Energy on the completion of its KCE NY1 project and its investment in Albany and the Capital Region of New York. We see continued growth potential for this battery storage technology, and have been confident since partnering with Key Capture Energy that the startup would meet and even exceed their job development goals and provide research collaboration opportunities for our faculty and students,” Matt Grattan, director of community and economic development at the University at Albany, said.
Energy storage enhances the efficiency of the electric grid by capturing excess power and storing it in industrial-sized batteries for later use. Key Capture Energy’s project will store and discharge power based upon the changing needs of the grid.
“New York State has the most ambitious energy storage deployment target in the U.S., and NYSERDA plays a vital role in promoting the state’s clean energy future. We are so pleased to have been selected as the first Bulk Storage Incentive program award recipient and applaud the state’s programs that support innovative energy solutions while benefiting the state’s economy and environment. We look forward to being a part of the next generation of New York State’s electric grid,” Dan Fitzgerald, co-founder and chief operations officer of Key Capture Energy, said.
