New York Awards $206 Million For New Large-Scale Renewable Energy Projects

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New York Gov. Andrew M. Cuomo and the New York State Energy Research and Development Authority (NYSERDA) have released $206 million in funding for approximately 164 MW of renewable capacity, including two New York-based wind farms.

Funding is provided by NYSERDA, which administers New York's renewable portfolio standard (RPS). Contracts for the renewable projects will be awarded for a term of up to 20 years – double the term of previous contracts.

The selected projects are as follows:

  • Arkwright Summit Wind Farm, 78 MW, Arkwright, Chautauqua County;
  • Jericho Rise Wind Farm, 78 MW, Chateaugay, Franklin County;
  • City of Watervliet Delta Hydroelectric Project, 8 MW, Rome, Oneida County; and
  • Village of Wappingers Falls Hydroelectric Project, 100 kW, Wappingers Falls, Dutchess County.

According to NYSERDA, the weighted average award price for the ninth Main Tier solicitation is $22.96/MWh of production over the 20-year contract term – about one-third less than the average contract price for the previous solicitation, which was $34.95/MWh of production over 10 years.

NYSERDA says its nine RPS Main Tier solicitations for large-scale renewable projects have resulted in approximately more than 5 million MWh of installed capacity at 71 projects. NYSERDA says it will issue at least one more Main Tier solicitation under the RPS in 2015.

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