Flatiron Energy announced on October 21, 2026, 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.

The awards were made as part of New York State's inaugural Bulk Energy Storage solicitation.

Project Locations and Capacity

Both projects are located in the Bronx and are among eight lithium-ion bulk energy storage projects selected through the competitive solicitation.

Together, the eight selected projects are expected to add approximately 950 MW of new energy storage capacity to New York's electric grid once fully operational.

Siting Geared Toward New York City Grid Reliability

According to the announcement, Blue Spruce Storage and Palladium Storage were deliberately sited by Flatiron to support the reliability of New York City's electric grid. The company says the projects are intended to help residents save on electricity costs, ensure power is available during periods of high demand, and reduce reliance on fossil-fueled peaking units.

NYSERDA President and CEO Doreen M. Harris congratulated Flatiron Energy on the awards. "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," Harris said. "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."

Company Response to the Awards

Juliana Mandell, Chief Commercial Officer at Flatiron, described the selection of both projects as a significant moment for the company. "We are extremely proud to have two projects selected in New York's first bulk energy storage solicitation," Mandell said. "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."

Support for New York's 6 GW Storage Target

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. Through the development of Blue Spruce Storage and Palladium Storage, Flatiron will contribute new energy storage capacity to help advance that goal.

Across the eight selected projects, NYSERDA estimates the inaugural solicitation will generate more than USD 1.6 billion in private investment and create more than 500 short- and long-term jobs.

Fire Safety Requirements

All NYSERDA-supported storage projects, including the Flatiron projects, must meet New York's rigorous fire safety standards. Those standards cover first-responder training, safe siting, and comprehensive emergency response plans.

Timeline and Conditions

Both Blue Spruce Storage and Palladium Storage are planned to be operational before the end of 2030. The timeline is subject to required permits, local approvals, and safety requirements.

About Flatiron Energy

Flatiron Energy describes itself as a provider of safe and reliable energy solutions to improve grid reliability, reduce ratepayer costs, and support communities as energy demand grows.

The company develops, owns, and operates utility-scale energy storage projects and states that its team leverages multiple decades of expertise in energy storage development, structuring, and asset optimization.

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