HOUSTON, Texas (February 28, 2022) – Honeywell (NASDAQ: HON) today announced it will supply Hecate Energy with an Energy Storage System (ESS) for a solar park located in Northern New Mexico. When completed in mid-2022, the 50-megawatt (MW) solar farm will be capable of supplying enough electricity to power up to 16,000 average New Mexican homes for a year. The project is a part of an initiative by the Public Service Company of New Mexico and will help meet the state’s decarbonization goals.
Honeywell will deliver a 20MW ESS combined with the Experion® Energy Control System to form a battery-powered platform that integrates asset monitoring, distributed energy resource management, supervisory control and analytics functionality. Collectively, these capabilities will enable Hecate Energy to accurately forecast and optimize energy costs at the site and ultimately support users having access to reliable and cost-effective clean energy.
Honeywell’s ESS is backed by Honeywell performance and outcome-based guarantees which include predictable and consistent costs, improved uptime and “revenue stacking” capabilities, allowing the asset owner to utilize the ESS for more than one use-case application including peak shaving, backup power generation and demand response programs.
“We chose Honeywell for this landmark project because of their depth of knowledge and decades of expertise,” said Alex Pugh, Hecate’s Project Manager. “We believe in collaborative relationships with the clients and communities we serve, and Honeywell will work closely with us to deliver carbon-free energy to the people of New Mexico.”
“Honeywell is in a unique position to address today’s challenges in energy management and our work with Hecate represents another key step in global decarbonization efforts,” said Ujjwal Kumar, President & CEO, Honeywell Process Solutions. “Hecate Energy, much like Honeywell, is focused on innovation and the latest technologies to lead the change in energy transition, making them an ideal collaborator in bringing renewable energy options to the table.”
Energy storage will play a critical role as organizations transition to renewable power generation and will be vital to the decarbonization of global power systems. According to a recently published research report by Stanford University, the U.S. power grid could reach 100% renewable power penetration by 2050. This new cost competitive electricity mix would rely largely on solar, wind and hydro development as well as energy storage technology.