Contracts struck for two major transmission projects in New York

The state of New York on Tuesday finalised contracts with the developers of two big transmission projects that will bring clean power to New York City from wind, solar and hydropower projects in upstate New York and Canada.

The contracts were signed by the New York State Energy Research and Development Authority (NYSERDA) and Clean Path New York LLC and HQ Energy Services US Inc (HQUS). Their respective projects -- Clean Path NY (CPNY) and Champlain Hudson Power Express (CHPE) -- will together provide about 18 TWh of power per year.

The City of New York has pledged to create an opportunity to reduce the cost impact of the two projects by roughly USD 1 billion (EUR 882.6m). The schemes were selected under the Tier 4 renewable energy solicitation issued by NYSERDA in January. They are pending approval by the New York State Public Service Commission (PSC) and are currently subject to a public comment period.

CHPE is a 1.25-GW power transmission project that will bring hydropower from the Canada–US border to New York City. It is being developed by Transmission Developers Inc, a Blackstone portfolio company, and Hydro-Quebec. The project is fully permitted and power from it will be supplied in 2025.

The USD-11-billion CPNY project combines a 1.3-GW, 174-mile (280 km) underground transmission line with 3.4 GW of new wind and solar projects in upstate New York. Being developed by Forward Power, a joint venture between Invenergy and EnergyRe, and the New York Power Authority, it is planned to start delivering power to New York City in 2027.

According to the governor’s statement, the two schemes will bring USD 8.2 billion in economic development investments.

(USD 1.0 = EUR 1.133)

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