Dive Brief:
- New York Gov. Andrew Cuomo last week announced the state would provide $360 million to support 11 large-scale renewable energy projects, a diverse mix that includes solar, wind, hydro and fuel cell technologies.
- When completed, the projects will add more than 260 MW of carbon-free energy to the state's portfolio, which it has been revamping through the Reforming the Energy Vision strategy.
- The New York State Energy Research and Development Authority, which is providing the support, said the energy produced from the projects will average $24.24/MWh over the course of 20-year contracts.
Dive Insight:
New York continues to prove it is serious about revamping its electricity sector. NYSERDA said last week that due to the "robust response" to its solicitation, it had more than doubled funding. New York's $360 million commitment will also leverage almost $1 billion from the private sector, the agency said.
NYSERDA President and CEO John Rhode said large-scale renewables are "a critical component" to the state ultimately reaching 50% renewable energy by 2030, along with a 40% cut in greenhouse gas emissions. The 11 projects include two wind farms, a utility-scale solar farm, seven hydro projects, and a fuel cell project—Bloom Energy will install a 1.05-MW fuel cell for a pharmaceutical company.
Among the larger projects: Hecate Energy will build a 50 MW solar facility in Greene County; Invenergy Wind will develop a 106 MW farm in Lewis County; and a subsidiary of Cube Hydro Partners will make upgrades to an existing Jefferson County facility resulting in 32 MW of additional capacity.
Public Service Commission Chair Audrey Zibelman credited Cuomo's Clean Energy Standard for supporting the projects. In August the state enacted a plan to attract renewable power as well as keep upstate nuclear plants online.
"New York will continue to attract billions of dollars in private investment for new renewable power supplies," Zibelman said.
