Finance, Regulation, Solar, Sourcing Renewables, Wind  -  March 19, 2020

New York awards $1 billion to 21 state RE projects

New York Governor Andrew Cuomo announced March 13 20-year awards for 1,278 MW of clean energy across 21 large-scale solar, wind and energy storage projects that will provide power within the state.

The projects, reflecting an investment by the state of $1 billion, will be located across upstate New York and are expected to annually generate over 2.5 million MWh and reduce carbon emissions by more than 1.3 million metric tons.

Gov. Cuomo has previously committed to getting the state to 70% renewable electricity by 2030 and 100% by 2040. The projects selected by the state to receive funding include 17 solar projects, two of which will include energy storage to increase opportunity for integration clean energy into the grid, and four wind projects

“Under Governor Cuomo's leadership and as emphasized in his 2020 State of the State address, New York's steady advancement of large-scale renewable energy projects is helping create a clean energy future faster and more affordable than ever anticipated,” Alicia Barton, president and CEO of NYSERDA, said in a statement. “Building on our success over the past three years, these projects, once completed, will deliver a significant amount of clean, renewable energy to all New Yorkers while helping to grow the state's green economy. With the impacts of climate change being felt in New York and around the world, moving rapidly to renewable forms of energy is imperative.”

The New York Energy Research and Development Authority and other State and local agencies will oversee the development of these renewable energy projects. These 21 new projects are the third in a series of annual NYSERDA land-based renewable procurements that will advance the development of more renewable energy projects over the next decade.

Work on the awarded projects should begin later this year and be completed and operational by 2024.

NYSERDA plans to issue the next solicitation for large-scale renewable energy by Earth Day 2020.