Rockland Capital Buys Beacon PowerRockland Capital Buys Beacon Power
Rockland will pay $30.5 million in cash for Beacon Power’s 20-megawatt flywheel energy storage plant in Stephentown, New York. Beacon Power had plans to build two more 20-megawatt flywheel-based energy storage plants. Beacon Power had plans to build two more 20-megawatt flywheel-based energy storage plants. In 2009, Beacon Power was awarded a $24 million smart grid grant by the DOE. Rockland plans to provide the necessary capital to develop the Pennsylvania flywheel energy storage plant. The private equity firm also will rehire the majority of the current Beacon staff into its new company, Beacon Power LLC.
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