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Stock impact report

City of Socorro Awarded State Funding for Grid Modernization Project in Partnership with Socorro Electric Cooperative and Nuvve [Yahoo! Finance]

Nuvve Holding Corp. (NVVE) 
Company Research Source: Yahoo! Finance
Conservation and Management Division (ECAM) to advance a grid modernization initiative aimed at improving reliability, resilience, and long-term energy infrastructure planning. The funding allows Socorro Electric Cooperative (SEC) and Nuvve New Mexico to design and engineer a utility-scale battery energy storage system (BESS) and associated grid upgrades. The ECAM award supports a Type 2 Grid Modernization project, which includes feasibility analysis, system design, interconnection planning, and economic modeling. The effort establishes a pathway toward a future deployment phase, which is a planned 5 MW / 20 MWh battery system and substation. "This is an important step forward for grid modernization in New Mexico," said Ted Smith, CEO of Nuvve New Mexico. "We are creating a clear and practical pathway toward deploying advanced battery storage in a way that improves reliability and reduces costs for the community through peak demand management, improved system efficiency and enhanc Show less Read more
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