Duke Energy (DUK) Receives $22M US DoE Grant for Wind Energy Storage
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Duke Energy (NYSE: DUK) intends to match a $22 million grant from the U.S. Department of Energy to design, build and install large-scale batteries to store wind energy at one of its wind farms in Texas.
The batteries at Duke Energy's Notrees Windpower Project in Ector and Winkler counties, Texas, will store excess wind energy and discharge it whenever demand for electricity is highest - not just when wind turbine blades are turning.
The total value of the 20-MW energy storage project at Duke Energy's Notrees site is $43.6 million.
The DOE grant was made possible by the American Recovery and Reinvestment Act of 2009, known informally as the federal stimulus program. Duke Energy and DOE must negotiate the terms and conditions of the grant before any funds are released.
The Electric Power Research Institute will provide advisory services to Duke Energy throughout the development of this energy storage project.
The batteries at Duke Energy's Notrees Windpower Project in Ector and Winkler counties, Texas, will store excess wind energy and discharge it whenever demand for electricity is highest - not just when wind turbine blades are turning.
The total value of the 20-MW energy storage project at Duke Energy's Notrees site is $43.6 million.
The DOE grant was made possible by the American Recovery and Reinvestment Act of 2009, known informally as the federal stimulus program. Duke Energy and DOE must negotiate the terms and conditions of the grant before any funds are released.
The Electric Power Research Institute will provide advisory services to Duke Energy throughout the development of this energy storage project.
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