NEWS

Lightshift Energy announced capital infusions totaling $100M from Greenbacker Capital Management LLC.

Scheduled to be operational in 2024, the 3-megawatt/9-megawatt-hour energy storage facility “is designed to shield PMLD customers from escalating capacity and transmission costs that are a major contributor to rising electricity rates.”

Delorean Power co-founder and managing partner Rory Jones claimed the projects will “deliver major financial savings to the community of Groton in the range of ten million dollars” over their lifetime.

Delorean and Groton Electric Light Department to develop two energy storage assets set to deliver cost savings to ratepayers, including an innovative resilience project that will provide sustainable backup power to an elementary school.

Holden is where Virginia-based Delorean Power LLC is building its first battery storage unit in Massachusetts. The goal is big reductions in electricity bills for Holden residents and businesses while delivering more energy efficient power that benefits the environment.

Dynamic energy storage project will mitigate peak system demand and provide at least $10 million in cost savings to Holden Municipal Light Department customers.

The commission approved recommending the 29-megawatt battery storage facility during its May 18 meeting. The facility, which would be located in the Langley Research & Development Park, stores electrical power in large lithium-ion battery cells.

The budgets for each house range from $115,000 to $125,000, and funding came by anonymous donors, The West Piedmont Planning District Commission, St. Luke’s The Community Foundation of the Dan River Region, Delorean Power and the PRA Group for the first four houses.