Energy Storage News•9 days ago
Hecate cancels 650MW Staten Island, New York BESS project
Key Takeaway
The cancellation of a 650MW BESS project in New York signals significant challenges for large-scale energy storage development, particularly in constrained urban areas, impacting future grid reliability and capacity markets.
AI Summary
- •Hecate Energy has cancelled its 650MW Swiftsure battery energy storage system (BESS) project in Staten Island, New York.
- •This cancellation removes a significant 650MW storage asset from New York's future capacity pipeline, potentially impacting future capacity prices and grid stability for large power consumers in the region.
- •The unstated reasons for cancellation highlight potential, unarticulated challenges (e.g., permitting, interconnection, community opposition, financing) for large-scale BESS projects, particularly in dense urban areas like NYC, which developers must factor into risk assessments.
Topics
storagepolicyinterconnectqueuecapacity-marketfinancingtransmission