Flatiron Energy Awarded Contracts for Large-Scale Battery Storage Projects in New York City

Blue Spruce Storage and Palladium Storage underscore Flatiron’s commitment to strengthening New York’s electric grid and delivering long-term benefits to local communities

NEW YORK--(BUSINESS WIRE)--Flatiron Energy ("Flatiron" or “the Company”) today announced that the New York State Energy Research and Development Authority (NYSERDA) has awarded contracts to two of the Company’s large-scale battery energy storage projects, Blue Spruce Storage and Palladium Storage, as part of New York State’s inaugural Bulk Energy Storage solicitation.

Located in the Bronx, Blue Spruce Storage and Palladium Storage are among eight lithium-ion bulk energy storage projects selected through the highly competitive solicitation. The eight projects are expected to add approximately 950 MW of new energy storage capacity to New York’s electric grid once fully operational. Blue Spruce Storage and Palladium Storage were deliberately sited by Flatiron to support the reliability of New York City’s electric grid, helping residents save on electricity costs while ensuring power is available during periods of high demand and reducing reliance on fossil-fueled peaking units.

NYSERDA President and CEO Doreen M. Harris said, “I congratulate Flatiron Energy and applaud the role Blue Spruce Storage and Palladium Storage will play in providing capacity to New York City’s electricity network during peak periods. These energy storage projects are critical to improving the reliability of New York’s grid, reducing costs for ratepayers, and deploying clean energy to meet the State’s growing power needs.”

“We are extremely proud to have two projects selected in New York’s first bulk energy storage solicitation,” said Juliana Mandell, Chief Commercial Officer at Flatiron. “These awards mark an important milestone for Flatiron and reflect our commitment to developing energy storage infrastructure that strengthens the electric grid and benefits local communities. We look forward to developing these projects alongside NYSERDA and our local partners.”

The awards support New York State’s efforts to expand energy storage capacity and strengthen grid resiliency as the State works toward deploying 6 GW of energy storage by 2030. Across the eight selected projects, NYSERDA estimates the inaugural solicitation will generate more than $1.6 billion in private investment and create more than 500 short- and long-term jobs. All of the NYSERDA-supported storage projects will be held to New York’s rigorous fire safety standards, covering first-responder training, safe siting, and comprehensive emergency response plans.

Through the development of Blue Spruce Storage and Palladium Storage, Flatiron will contribute new energy storage capacity to help advance the State’s goal while building a more powerful electric grid. Both projects are planned to be operational before the end of 2030, subject to required permits, local approvals, and safety requirements.

About Flatiron
Flatiron Energy provides safe and reliable energy solutions to improve grid reliability, reduce ratepayer costs, and support communities as energy demand grows. We develop, own, and operate utility-scale energy storage projects that strengthen the electric grid and provide clean capacity where it is needed most. Flatiron's team leverages multiple decades of deep expertise in energy storage development, structuring, and asset optimization and we are guided by our mission to have a positive impact on the local communities we reach. To learn more, please visit: https://flatiron.energy/.