Government Loan Guarantee Paves Way for New York Energy Project

Last December the Secretary of Energy Steven Chu awarded a $17.1 million loan guarantee to the AES Westover utility facility in New York State. The government guarantee will allow the building of a 20 megawatt storage system which will use the latest technology of advanced lithium-ion batteries. The project will be constructed in Johnson City and will help to insure a more stable and well-running electrical grid for the high-voltage transmission network of New York.

Secretary Chu said at the time that, “The AES project helps reduce carbon emissions and strengthens our energy infrastructure by allowing for more renewable energy sources like solar and wind to contribute to the electrical grid,” said Secretary Chu. “Bringing more efficiency and reliability to the grid will help cut costs for consumers and power a cleaner energy future.”

Also coming out in praise of the government decision was U.S. Senator Kirsten Gillibrand.

“This is great news for all of New York State. This project advances cutting-edge, battery technologies that will help reduce our dependence on fossil fuels, improves the efficiency of our energy grid, and spurs job growth in the clean energy economy.”

Charles Shummer, U.S. Senator added his thoughts.

“New York should be a hub of green manufacturing and a magnet for the thousands of high tech, good paying jobs that it will bring. AES’s new facility will, plain and simple, move New York towards that goal.”

“I am thrilled that AES Energy Storage has secured this critical financing from the Department of Energy’s Loan Guarantee program to support the construction of a new facility in Johnson City,” U.S. Representative Maurice D. Hinchey said. “AES is working on cutting edge, clean energy technology that will reduce carbon emissions, create jobs, and eventually reduce energy costs for families and businesses. I congratulate the AES team on securing this award and look forward to working with, and supporting, them as they grow their business.”