Beacon Power will build third flywheel regulation plant in Ohio

[Fledermaus]

Tyngsborough-based Beacon Power Corp., which makes flywheel-based power storage systems, has signed a new contract with American Electric Power Co. Inc., a large utility based in Ohio.

Under terms of the deal, Beacon Power (Nasdaq: BCON) will build and deploy a 1-megawatt Smart Energy Matrix regulation facility at an American Electric Power (AEP) facility in Groveport, Ohio, operated by AEP operating subsidiary, Columbus Southern Power Co. The construction of the device will be done at Beacon Power’s expense, while AEP will provide and install the interconnection infrastructure.

AEP has already completed the necessary system impact study and executed an interconnection agreement, according to a company statement. Installation of the Smart Energy Matrix is scheduled to begin in the middle of this year.

The system is expected to provide flywheel-based frequency regulation services for the local grid. Once installed, Beacon Power will earn commercial revenue from the system. Financial terms of the deal were not provided.

http://www.masshightech.com/stories/2009/02/23/daily5-Beacon-Power-deal-to-help-stabilize-Ohio-grid.html