New York state to back 164 MW of wind, HPP projects

Nov 13, 2014 - The US state of New York will provide USD 206 million (EUR 165m) to 164 MW of wind and hydropower plant (HPP) projects, governor Andrew Cuomo said on Wednesday.

The projects, which were selected through a competitive solicitation process, are the 78-MW Arkwright Summit wind scheme in Chautauqua County and the 78-MW Jericho Rise wind park in Franklin County. The 8-MW HPP station in Oneida County and a 100-kW HPP facility upgrade to an existing dam in the Dutchess County will also receive financial backing.

The funding for the four projects comes under the New York State Energy Research and Development Authority’s (NYSERDA's) 9th Main Tier solicitation, Cuomo explained. It is being allocated through the State’s Renewable Portfolio Standard. The weighted average award price for the 9th Main Tier solicitation is USD 22.96 per MWh of green power for the 20-year terms of the awarded contracts.

Once operational, these four renewable energy plants will together generate about 450,000 MWh of electricity per year, or enough to power over 60,000 averaged-sized households. Through the projects, New York state will diversify its renewable energy portfolio and lower its greenhouse gas emissions.

The NYSERDA has so far extended financing for 71 renewable energy projects, producing over 5 million MWh of power annually.

(USD 1.0 = EUR 0.803)

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