New York awards USD 360m to 11 renewable energy projects

New York sunrise. Author:Anthony Quintano. License: Creative Commons, Attribution 2.0 Generic.

January 13 (SeeNews) - New York State governor Andrew Cuomo on Wednesday announced USD 360 million (EUR 339m) in support for 11 large-scale renewable energy projects, including two wind projects and one utility-scale solar scheme.

The New York State Energy Research and Development Authority (NYSERDA) will invest the above-mentioned sum in projects that would add over 260 MW of renewable energy capacity in the state. Because of the robust response to the solicitation, the sum was increased by USD 210 million over recent awards.

As part of this solicitation, NextEra Energy Resources LLC will get support to build the 101.2-MW Eight Point Wind Energy Center in Steuben County. In turn, Invenergy will receive funds to construct the 105.8-MW Number Three wind farm in Lewis County. At the same time, Hecate Energy LLC won support for the construction of a 50-MW solar power plant in Coxsackie, Green County.

Of the remaining eight projects, seven concern small hydropower plants and one involves the installation by Bloom Energy Corp of a 1.05-MW fuel cell at Regeneron Pharmaceuticals Inc in Tarrytown, Westchester County.

NYSERDA said that together, these projects will leverage almost USD 1 billion in private sector investment. The weighted average award price for this solicitation is USD 24.24 per MWh over the 20-year terms of the awarded contracts.

(USD 1.0 = EUR 0.941)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription