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NYPA approves PPA for 290-MW wind project

Invenergy wind farm. Source: Invenergy (www.invenergyllc.com).

February 4 (Renewables Now) - The New York Power Authority (NYPA) has cleared the award of a 20-year power purchase agreement (PPA) for a 290-MW wind project being developed by clean energy company Invenergy LLC in Steuben County.

The contract is with Canisteo Wind Energy LLC and covers the purchase of energy, capacity and renewable energy credits (RECs) generated by the particular wind park. It is the result of a 2017 competitive bid solicitation.

The wind farm will be built on about 25,000 acres of private land being leased in Steuben County in the Southern Tier. It was previously mentioned that the project will include a 20-MW energy storage component. Completion is scheduled for late 2020.

The decision by NYPA aligns with Governor Andrew Cuomo’s recently announced Green New Deal, which envisages achieving 70% of the state’s electricity needs with renewable sources by 2030. The goal for 2040 is to have a 100% carbon-free system.

The deal is also one of the 20 that were previously chosen by the New York State Energy Research and Development Authority (NYSERDA) to receive USD 1.5 billion (EUR 1.31bn) in competitive awards, the second in a series of annual NYSERDA procurements. The first solicitation awarded 26 projects.

(USD 1.0 = EUR 0.874)

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

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