Governor Andrew M. Cuomo recently announced that more than 200 proposals were received from large-scale, clean energy project developers in response to two requests for proposals that will add historic amounts of renewable energy to New York’s power supply.
The state expects to invest up to $1.5 billion in new clean energy projects through the two RFPs, administered by the New York State Energy Research and Development Authority and the New York Power Authority. The investments will advance the Governor’s ambitious goal to get 50% of New York’s electricity from renewable energy sources by 2030.
“New York is leading the nation in advancing clean energy projects to support our promise to achieve half of all electricity from renewables by 2030,” Governor Cuomo said. “Renewable energy is the way of the future and by working with the private sector, this state is capitalizing on business diversity and creativity, while securing investments for real results to combat climate change and build a cleaner, greener New York for all.”
Both solicitations yielded creative proposals to use large-scale wind, solar, hydroelectric, or biomass renewable energy generation technologies to support the Governor’s Clean Energy Standard.
NYSERDA received 88 proposals from 30 clean energy developers and NYPA received more than 130 proposals from 51 clean energy developers in response to the requests for proposals. A number of development companies submitted proposals for both RFPs.
“Under Governor Cuomo’s nation-leading clean energy initiatives — Reforming the Energy Vision and the Clean Energy Standard — clean energy developers are answering the call to do business in New York State,” said Richard Kauffman, Chairman of Energy and Finance, New York State. “We are excited to see such a positive response to our request for clean energy projects and look forward to making these projects become a reality, benefiting all New Yorkers with cleaner, more resilient and affordable energy.”
The solicitations together are seeking to procure 2.5 million megawatt hours of electricity from renewable energy resources, representing the largest clean energy procurement by a state in U.S. history. In total, the projects submitted to NYSERDA represent more than four gigawatts of renewable capacity, and projects submitted to NYPA represent more than nine gigawatts of potential renewable energy supply for the state. This robust response provides both agencies the opportunity to select and procure the best and most cost-effective proposals for meeting the objectives of the Clean Energy Standard.
NYSERDA’s final bid proposals are due by September 28, with competitive selection and awards expected in November. NYPA received many proposals incorporating an innovative financing structure called a pre-paid power purchase agreement, which is designed to lower the financing cost — and costs to customers — for renewable projects. NYPA expects to complete contracts with winning developers in the first half of 2018.
Both the NYSERDA and NYPA solicitations will lead to the creation of thousands of direct and indirect jobs from development, construction and operation of clean energy projects through 2022.
“The pool of eligible bid facilities represents a pipeline of renewable energy projects that could generate more than 9.5 million megawatt hours per year, more than six times the quantity sought under the solicitation,” said NYSERDA President and CEO Alicia Barton. “This robust developer interest in New York is exciting to see, and we expect that this level of competition will drive very attractive prices when the bids come in.”