New York state will invest $160 million
to grow large-scale clean energy projects
statewide.
As part of the state’s Reforming the Energy
Vision (REV) strategy, the funding is being
made available to support public-private sector
partnerships in clean energy projects, Gov.
Andrew Cuomo said in early April.
Funding will be administered competitively,
and proposals will improve energy affordability
and reliability, while also expanding new
economic development opportunities and
protecting the environment.
“This funding is a crucial resource for
the development of New York’s clean energy
infrastructure, and by supporting large scale
projects we are ensuring that the grid can
meet the needs of a growing economy,” Cuomo
said. “Investing in these kinds of projects is
another example of how we are building a
cleaner and more sustainable future in New
York state, and I look forward to seeing that
progress unfold in the years ahead.”
REV calls for creating a cleaner, more reliable
and more affordable energy system in New
York State. This funding will support significant
private investment in renewable energy
sources such as wind farms, fuel cells, biomass
facilities, renewable biogas and the upgrading
of small- to medium-sized hydropower projects
that provide power to the electric grid.
This $160 million competitive solicitation
promotes development of a broad range of new
clean energy resources. Contracts for these
projects will be awarded for a term of up to
20 years. Recognizing the maturation of fuel
cell equipment, for the first time ever, fuel
cell projects will also be eligible for 20-year
contracts.
State officials said support for these new
grid-based projects will be provided by the
New York State Energy Research and Development
Authority (NYSERDA) through the
Main Tier of the State’s Renewable Portfolio
Standard (RPS), which is New York’s primary policy to promote the development of new
large-scale renewable energy resources.
According to the governor’s office, for every
$1 invested in RPS Main Tier projects, New
York realizes $3 in economic benefits. More
than $3 billion of direct investment in New
York state is expected as a result of existing
Main Tier projects in the form of jobs, payments
to public entities, in-state purchase of
goods and services and land leases.
NYSERDA’s previous nine RPS Main Tier
solicitations for large-scale renewable projects
have resulted in approximately 2,036 megawatts
of installed capacity at 65 projects that,
once operational, will generate more than five
million megawatt-hours of renewable energy
annually. Another Main Tier solicitation is
expected to be released in 2016.
State Energy and Finance Chairman
Richard Kauffman said, “While we envision
a more localized power grid in the future,
it is imperative we ensure our large-scale
generation sources are as clean as possible.
With certainty and transparency, New York
State is establishing itself as an attractive
environment for private developers to invest
and create new jobs in the state’s growing
clean economy.”
NYSERDA President and CEO John B.
Rhodes said large clean energy projects made
possible by the RPS investment “will have
a positive impact on the environment and
the economy of New York state. In addition,
they will help advance Gov. Cuomo’s energy
objectives, including the growth of renewable
electric generation projects.”
Under the strategic Reforming the Energy
Vision initiative, New York State is actively
spurring clean energy innovation, bringing
in new investments and improving consumer
choice through initiatives such as the Clean
Energy Fund, $1 billion NY-Sun Initiative, $1
billion NY Green Bank, $40 million NY-Prize
competition for community microgrids and
others.