March 16 (Renewables Now) - New York has selected 21 projects of 1,278 MW in total in its latest solicitation for large-scale renewable energy capacity, governor Andrew M Cuomo announced on Friday.
The competitive round, held by the New York State Energy Research and Development Authority (NYSERDA), ended with a weighted average award price of the proposals of USD 18.59 (EUR 16.63) per MWh -- the lowest average price in such tender in more than 10 years. Winners in the competition will be awarded 20-year power purchase agreements (PPAs). Among them are Canadian renewables developer Boralex Inc (TSE:BLX), NextEra Energy Resources, SunEast Development, TerraForm Power (NASDAQ:TERP), Empire Renewables and Terra-Gen.
The full list of winners is available here.
The selected projects are proposals for 17 photovoltaic (PV) parks and four wind farms, including three repowering projects, representing a combined investment of over USD 2.5 billion. Two of the solar farms will have integrated battery storage. Once up and running, these plants are expected to bring more than 2.5 million MWh of electricity per year, with their output to be enough to supply over 350,000 homes while offsetting more than 1.3 million tonnes of carbon dioxide (CO2) emissions. All plants have to go online by 2024.
NYSERDA’s competitions are organised to support the state’s goal to source 70% of its electricity from renewables by 2030 and Cuomo’s mandate for a 100% carbon-free electricity sector by 2040.
The next procurement round will be launched by April 22, 2020.
(USD 1.0 = EUR 0.895)