US New York state to provide USD 250m funding for green energy projects
Dec 28, 2012 - US New York state's governor Andrew Cuomo earlier this week announced USD 250 million (EUR 188.8m) in funding for renewable energy projects in the state.
Mid- and large-scale power projects from wind, hydro, biomass and other clean energy resources are eligible to compete for the funding, administered by the New York State Energy Research and Development Authority (NYSERDA) through the state's Renewable Portfolio Standard (RPS).
The projects selected to receive financing will be announced by the coming summer.
NYSERDA has main tier contracts with 54 large-scale renewable power producers, including two biomass plants, 10 landfill biogas plants, 25 hydropower plants and 17 wind farms, under the RPS programme. These projects are expected to produce enough combined power to supply over 650,000 homes annually. The projects are expected to yield up to USD 2.4 billion in direct benefits over the next 20 years.