N.Y. Power Authority Launches Recharge New York Program with Informational Meetings in New York City
September 15, 2011
FOR IMMEDIATE RELEASE
NEW YORK—The New York Power Authority (NYPA) continues its statewide informational meetings on the ReCharge New York program next week, with NYPA representatives providing details on the new economic development power program signed into law earlier this year by Governor Andrew M. Cuomo (www.governor.ny.gov/press/04142011rechargenewyork).
NYPA will hold meetings in New York City at 9 a.m. and 1 p.m., on Wednesday, Sept. 21, at the Jacob K. Javits Convention Center (212-216-2000), 655 W 34th Street, 10001.
“ReCharge New York is a potent economic development initiative for providing eligible businesses throughout the state with low-cost electricity, to support new and existing jobs and capital expansion,” said Gil C. Quiniones, NYPA’s acting president and chief executive officer. “The meetings being held by the Power Authority will provide businesses with information on the key elements of the new power allocation program in order for the state to maximize the economic development benefits. I want to thank Governor Cuomo for his leadership in spearheading the legislation for making the ReCharge New York Program possible, as we look forward to carrying out his vision for economic development.”
ReCharge New York, which becomes effective on July 1, 2012, will make available low-cost electricity to attract new businesses and encourage existing firms and not-for-profit organizations to stay and grow in the state. Companies will be awarded power contracts based on capital investment commitments, job retention and creation, consistency with regional economic development council priorities, and other factors. Businesses participating in the program must also demonstrate a commitment to maximizing energy efficiency.
Details and a full list of the statewide venues for the ReCharge New York meeting dates are available at: www.nypa.gov/rechargeny or by calling 888-JOBSNYS (888-562-7697).
■ The New York Power Authority uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. ■ NYPA is a leader in promoting energy efficiency, new energy technologies and electric transportation initiatives. ■ It is the nation's largest state public power organization, with 17 generating facilities in various parts of New York State and more than 1,400 circuit-miles of transmission lines. ■ Approximately 80 percent of the electricity it produces is clean renewable hydropower. Its lower-cost power production and electricity purchases support hundreds of thousands of jobs throughout the state. ■For more information, www.nypa.gov.