The New York State Energy and Research Development Authority announced Tuesday that it has executed contracts with 23 large- scale and land-based renewable energy projects totaling more than 2.3 GW. Some of the projects have begun construction, and all are expected to be operational by 2028.
“New York continues to provide a reliable market for renewable energy projects,” NYSERDA President and CEO Doreen Harris said in a statement. “By facilitating responsible development of these projects, we are protecting our natural resources and creating healthier communities.”
The mix of solar and wind projects will provide enough energy to power more than 700,000 homes and will generate more than $4.7 billion in private investment, NYSERDA said. The contracts are the result of the authority’s 2023 Tier 1 Renewable Energy Standard solicitation. Contract payments will begin once projects are delivering renewable energy.
The projects are located in the Central New York, Mid-Hudson, Finger Lakes, Mohawk Valley, North Country, Southern Tier and Western New York regions of the state. The renewable energy generated by the projects is expected to reduce carbon dioxide equivalent emissions by 2.3 million metric tons annually, NYSERDA said.
New York’s Climate Leadership and Community Protection Act requires the state to consume 70% renewable electricity by 2030 and develop a zero-emission electric grid by 2040. But the state is reducing its fossil fuel consumption at the same time electricity demand is increasing, and there are potential resource shortfalls in New York City in 2033 and 2034, according to the New York Independent System Operator.
“If New York is going to achieve the goals set out by the CLCPA, we must continue to fund and push forward renewable energy projects that create thousands of sustainable union careers and provide economic stimulus to hardworking New Yorkers and their families,” New York State Building Trades President Gary LaBarbera said.
