in News Departments > FYI
print the content item

Beacon Power Corp., a provider of energy-storage products and services, has closed on a $43 million loan guaranteed by the U.S. Department of Energy (DOE). The transaction wraps up the financing for Beacon's 20 MW flywheel energy-storage plant, which is currently under construction in Stephentown, N.Y. 

"With the closing of this financing for our first 20 MW plant, we look forward to growing the company, creating jobs and continuing to deploy our technology in the U.S.," says Bill Capp, president and CEO of Beacon.

The flywheel systems at the Stephentown plant are intended to provide frequency-regulation services to help stabilize and enhance the performance of the New York power grid and enable the greater use of renewable energy sources.

SOURCE: Beacon Power


Hse SandyHook
Latest Top Stories

SaskPower Halts Smart Meter Installations Following Fires

The Canadian utility has suspended its smart meter deployment as it investigates half a dozen fires associated with the meters.


New Study Underscores Value Of Customer Engagement, Ranks Most-Trusted U.S. Utilities

According to the report, which analyzes 125 utilities across the country, earning a customer's trust can lead to monetary gains.


Washington State Doles Out Cash For Utility Energy Storage Projects

Three utilities have been awarded millions of dollars in grants to explore energy storage technology that could help integrate renewable and improve the power grid.


Utilities Reveal Just How Much Customers Are Saving With Energy Efficiency Programs

Two U.S. utility companies have issued progress reports and solid numbers regarding their respective initiatives.


Middle East And North African Countries To Spend Billions On Smart Grids, Solar Integration

According to a new report from Northeast Group LLC, the MENA region will make big investments to modernize the grid and add more solar power by 2024.

S&C Electric_id176
edf_id180