NYPA Press Release

NYPA Announces Plan for 290 Megawatt Wind Partnership in Steuben County to Spur Cost Savings and Power 113,000 Homes Annually

For Immediate Release: 01/31/19

Contact: Steven Gosset | Steven.Gosset@nypa.gov | (914) 390-8192


Wind Power Contract NYPA’s First Transaction in Large-Scale Renewables
 
 

Award to Accelerate New York’s Progress Toward Nation-Leading Renewable Energy Goals in the Green New Deal, Continue Commitment to Fighting Climate Change

 

WHITE PLAINS--The New York Power Authority (NYPA) has awarded a power purchase agreement for a 290 MW wind project to be constructed in Steuben County to procure and accelerate renewable energy and advance Gov. Andrew M. Cuomo’s aggressive clean energy goals. This investment in large-scale clean energy promotes a private partnership and will provide employment and economic benefits to the Southern Tier community.

 
“NYPA is eager to move forward with its first long-term supply contract with a private sector utility-scale renewable company,” said Gil C. Quiniones, NYPA president and CEO.  “Accelerating our acquisition of renewable energy for the benefit of our customers via public-private partnerships is the way to go.”

 

NYPA’s Board of Trustees approved the award of a 20-year power purchase agreement to Canisteo Wind Energy LLC for energy, capacity and renewable energy credits (RECs) generated from the wind project that would be developed and operated by Invenergy. Under the Clean Energy Standard, utilities and other energy suppliers are required to obtain a targeted number of RECs each year to help finance new renewable energy sources. The Steuben County project, which could power 113,000 homes annually, is expected to be in service by the end of 2020

 
The agreement will further advance Governor Cuomo’s recently announced Green New Deal. In his 2019 State of the State address, Governor Cuomo challenged New York to ramp-up its commitment to clean energy and achieve 70 percent of the state’s electricity needs with renewable sources by 2030 in an effort to achieve a 100 percent carbon-free system by 2040 . 

 

The Green New Deal is designed to significantly expand access to renewable energy while creating thousands of news jobs across New York.  With these goals in mind, the power purchase agreement to Canisteo Wind Energy LLC for energy, capacity and renewable energy credits (RECs) will create an estimated 140 construction jobs with more than 300 positions created indirectly and will generate about $2.5 million per year in tax payments to the area.


The Canisteo Wind award, which is a result of a 2017 competitive bid solicitation, will be NYPA’s first transaction for a large-scale renewable project.The project was originally selected for a New York State Energy Research and Development Authority (NYSERDA) award in an effort to ensure that this highly viable and cost-effective project was committed toward the achievement of the State’s goals.

 

Transitioning the Canisteo contract to NYPA will allow the authority to deliver cost savings and price stability to customers, who will continue to have the opportunity to enter into bilateral agreements for energy, capacity and RECs from the Canisteo Wind project.  

 

The agreement builds on NYSERDA’s announcement of awards to 19 other large-scale renewable energy projects. The awards were the second in a series of annual NYSERDA procurements to develop dozens of large-scale renewable energy projects under the Clean Energy Standard.

Collectively, these projects and the 26 projects awarded in NYSERDA’s first solicitation under the Clean Energy Standard account for 20 percent more new renewable capacity than was awarded under the decade-long Renewable Portfolio Standard, the predecessor to the Clean Energy Standard. New York has now awarded 46 projects, accelerating New York’s progress to meet the state’s unprecedented renewable energy goals within Governor Cuomo’s Green New Deal.

 

The Canisteo contract will allow NYPA to deliver cost savings and price stability to its customers, who will continue to have the opportunity to enter into bilateral agreements for energy, capacity and RECs from the Canisteo Wind project.  

 

The Canisteo Wind Farm will be built on approximately 25,000 acres of private land being leased in Steuben County in the Southern Tier. The Canisteo site has been in development for several years and is near Invenergy’s operating 16 MW Marsh Hill Wind Farm that began operations in 2014.

 

Invenergy currently has more than 220 MW of operating wind projects in the state of New York, with another 1,000 MW of wind, solar and battery storage projects in development across the state.

 

 

New York State’s Green New Deal

Governor Andrew M. Cuomo’s Green New Deal, the nation’s leading clean energy and jobs agenda, will aggressively put New York State on a path to economy-wide carbon neutrality. It provides for a just transition to clean energy, spurring the growth of the green economy and when passed, will statutorily mandate New York's power be 100 percent clean and carbon-free by 2040, one of the most aggressive goals in the U.S. The cornerstone of this newly proposed mandate is a significant increase of New York's successful Clean Energy Standard mandate to 70 percent, up from 50 percent, renewable electricity by 2030. This unprecedented ramp-up of renewable energy will include: quadrupling New York's offshore wind target to a nation-leading 9,000 megawatts by 2035, up from 2,400 megawatts by 2030; doubling distributed solar deployment to 6,000 megawatts by 2025, up from 3,000 megawatts by 2023; more than doubling new large-scale land-based wind and solar resources; maximizing the contributions and potential of New York's existing renewable resources; and deploying 3,000 megawatts of energy storage by 2030, up from 1,500 megawatts by 2025. To support this ambitious work, NY Green Bank intends to use its expertise in overcoming financing gaps to foster greater environmental impacts per public dollar by raising over $1 billion in third party funds to expand climate financing availability across New York and the rest of North America.

 

 

Reforming the Energy Vision

The Green New Deal builds on Governor Andrew M. Cuomo's landmark Reforming the Energy Vision strategy to lead on climate change and grow New York's economy. REV is building a cleaner, more resilient and affordable energy system for all New Yorkers by stimulating investment in clean technologies like solar, wind, and energy efficiency. Already, REV has driven growth of nearly 1,500 percent in the statewide solar market, improved energy affordability for 1.65 million low-income customers, and has led to more than 150,000 jobs in manufacturing, engineering, and other clean tech sectors across New York State.  

 

To learn more about the Green New Deal and REV, including the Governor's $5 billion investment in clean energy technology and innovation, visit rev.ny.gov, follow us on Twitter, Facebook, and LinkedIn.