New York PSC Approves Ravenswood Energy Storage Project

LCG, October 18, 2019--The New York State Public Service Commission (PSC) yesterday approved construction of the largest battery storage facility in New York State history. The 316-MW Ravenswood Energy Storage Project will be built in Long Island City, Queens, New York and scheduled to be partially operational by March 2021.

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Xcel Energy, EVRAZ North America and Lightsource BP Announce 250-MW Solar Project in Colorado

LCG, October 1, 2019--Xcel Energy, EVRAZ North America and Lightsource BP announced Friday that they have reached a long-term agreement to develop a 240-MW solar facility in Colorado. Lightsource BP will finance, build, own and operate the Bighorn Solar project and sell all the electricity it generates to Xcel Energy under a long-term power purchase agreement (PPA). The project will be built on EVRAZ Rocky Mountain Steel property in Pueblo, making it the largest on-site solar facility dedicated to a single customer in the country.

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Industry News

RGGI CO2 Auction Price Exceeds $3/ton

LCG, September 30, 2008--The ten, northeast states participating in the Regional Greenhouse Gas Initiative (RGGI) yesterday announced that the auction of carbon dioxide (CO2) emissions allowances held on September 25, 2008 were sold at a clearing price of $3.07 per allowance. All of the 12,565,387 allowances offered for sale were sold.

The ten states participating in RGGI, a cap-and-trade program designed to reduce greenhouse gases, are Connecticut, Delaware, Maine, Maryland, Massachusetts, New Jersey, New Hampshire, New York, Rhode Island and Vermont. The RGGI program goals include CO2 emissions held to a capped target through 2014, after which the cap is reduced by 2.5 percent annually through 2018 to achieve a 10 percent reduction in CO2 emissions.

Proceeds from the auction totaled over $38 million, which will be shared by the six states - Connecticut, Maine, Maryland, Massachusetts, Rhode Island and Vermont - participating in the initial auction. These states plan to use the funds for energy efficiency and renewable energy technologies to benefit energy consumers.

Another CO2 allowance auction is scheduled to occur on December 17, 2008. RGGI plans quarterly auctions during the first three-year compliance period, which runs from January 1, 2009 to December 31, 2011.
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