New York City Economic Development Corporation (NYCEDC) and the New York City Industrial Development Agency (NYCIDA) announced the advancement of a key commitment in New York City’s Green Economy Action Plan to develop a clean and renewable energy system.
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NYCIDA closed its largest battery energy storage project to date, the East River Energy Storage Project, located on an industrial site on the East River in Astoria, Queens.
When built, the facility will be able to hold up to 100 megawatts (MW) and power over tens of thousands of households. Once completed, the project will be amongst the largest battery storage installations in New York State.
In February, Mayor Adams unveiled New York City’s Green Economy Action Plan which lays out a series of commitments and strategies to grow the city’s green economy and train and position New Yorkers of all backgrounds to benefit from the nearly 400,000 projected green collar jobs in New York City by 2040.
A key commitment in the Action Plan is to promote and deploy NYCIDA tax incentives to support battery storage capacity projects and support other green economy uses throughout the five boroughs. Since January, NYCIDA has supported five battery storage projects throughout the five boroughs.
“Battery storage will play a significant role in advancing New York City’s just transition to a clean energy future and will help to replace dependency on highly pollutive peaker plants that emit dangerous pollutants - ultimately creating a brighter and healthier future for all New Yorkers,†said NYCEDC President & CEO Andrew Kimball. A key commitment in the Action Plan is to promote and deploy NYCIDA tax incentives to support battery storage capacity projects and support other green economy uses throughout the five boroughs. Since January, NYCIDA has supported five battery storage projects throughout the five boroughs.
“With the closing of the NYCIDA’s largest battery storage project to date, we look forward to continuing to strengthen our neighborhoods, supporting green economic growth, and ensuring New Yorkers of all backgrounds benefit from these opportunities." ■