N.J.—LOGAN TOWNSHIP (AP) – This past Friday, a coal-fired power station in New Jersey was demolished, and the owners have since revealed plans for a new $1 billion venture there, where batteries would be installed to store power from renewable energy sources like wind and solar.
This comes at a time when New Jersey is making strides to adopt clean energy, including becoming the East Coast’s leader in offshore wind power.
The former Logan Generating Plant was dismantled by Starwood Energy; the head of the New Jersey Board of Public Utilities pushed a ceremonial button, and a certified demolition expert set off the explosives that brought the building down.
In March, the business reached a deal with the state and a local utility to permanently shut down and demolish two of its older coal-fired power plants, including Logan. The second is the abandoned Chambers Cogeneration Plant in Carneys Point.
Himanshu Saxena, CEO of Starwood, a Greenwich, Connecticut, private equity investment business specializing in energy infrastructure projects, announced that the state’s final two coal-fired power facilities, which shut down three months ago, will host battery storage projects.
Coal mining will no longer be viable in this state, Saxena declared. These retirements are part of a larger trend toward shutting down coal-fired power plants as states seek to combat climate change by mandating increased use of carbon-free electricity.
He responded, “Wind doesn’t always blow; solar doesn’t always shine.” “We require energy storage systems. There’s a need for you to create battery storage solutions. This facility opened in 1994 in southern New Jersey, near the Philadelphia suburbs, on the banks of the Delaware River.
An alarm went off at the facility on Friday just before 11 a.m., signaling the impending detonation of explosives stored at the foot of the smokestack and in a larger building in the vicinity. A succession of explosions echoed through the air, and the buildings collapsed in a cloud of smoke and dust.
Saxena claims to have extensive experience in both the field of electricity generation and environmental protection. To reduce pollution, he worked in a coal factory without any “scrubbers” in India.
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You entered wearing a white shirt and exited wearing a black one.
In order to stop the operation of the two plants, environmental and public interest groups including the Sierra Club pushed Atlantic City Electric to terminate an agreement that locked rate-payers into what the Sierra Club called above-market electricity rates.
Ramon Cruz, national president of the Sierra Club, expressed his hope that the agreement will serve as a model for other states and businesses, stating, “More utilities need to acknowledge the changing landscape and that they have a responsibility to decrease carbon pollution.”
In total, Atlantic City Electric expects ratepayers to save $30 million through 2024 as a result of the termination of the agreement. All content is protected by copyright ’22 Nexstar Media, Inc. It is forbidden to copy, republish, disseminate, or otherwise make use of this content.