Daily Newsletter

14 September 2023

Daily Newsletter

14 September 2023

Con Edison to build $810m Brooklyn Clean Energy Hub

Works on the development are set to begin next year.

September 13 2023

American energy company Con Edison has broken ground on a transmission substation project, Brooklyn Clean Energy Hub, in Vinegar Hill, New York, US.

The facility is expected to boost New York’s power facilities, thereby contributing to fulfilling the region’s expanding electricity demand, and acting as an entry point for offshore wind power.

The plant will be equipped to hold up to 1,500MW of power, which means it can potentially supply electricity to 750,000 homes.

Additionally, construction works are estimated to generate more than 500 skilled union jobs.

Edison chair and CEO Tim Cawley said: “The Brooklyn Clean Energy Hub represents a major milestone in the clean energy transition and will strengthen our [state] grid’s reliability.

“This project will offer a critical plug-in point to connect with offshore wind, while creating good jobs, supporting economic growth, and advancing New York’s climate goals.”

The project is valued at $810m and is anticipated to begin construction next year, with the full development projected to be finished by 2028.

New York City Council member Lincoln Restler said: “I look forward to working with Con Edison and local stakeholders to open the hub by 2028 to help meet our state’s ambitious climate and clean energy goals.”

South-East Asia Construction Market Dynamics

Per GlobalData analysis, the South-East Asia construction industry in 2023 is dominated by Indonesia, though the country will see a slowdown compared to 2022 due to elevated building material prices, weak commercial property demand, high interest rates and a softening of external demand. The construction industry in the Philippines is estimated to register a AAGR of 7.2% between 2024 and 2027, supported by the government’s focus on the development of the country’s rail and road transport and energy infrastructure.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close