New York’s Search For Renewables Drew Strong Interest From Developers

In response to two requests for proposals (RFPs) for clean energy, the New York State Energy Research and Development Authority (NYSERDA) and the New York Power Authority (NYPA) have received a total of more than 200 proposals, Gov. Andrew M. Cuomo has announced.

The state expects to invest up to $1.5 billion in new clean energy projects through the two RFPs, administered by NYSERDA and NYPA. The investments will advance the governor’s goal to get 50% of New York’s electricity from renewable energy sources by 2030.

According to a press release from the governor’s office, both solicitations yielded creative proposals to use large-scale solar, wind, hydroelectric or biomass technologies to support Cuomo’s Clean Energy Standard.

Specifically, NYSERDA received 88 proposals from 30 developers, and NYPA received more than 130 proposals from 51 developers. A number of developers submitted proposals for both RFPs.

“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,” says Cuomo. “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.”

The solicitations together are seeking to procure 2.5 million MWh of electricity from renewable energy resources – representing the largest clean energy procurement by a state in U.S. history, according to the release.

In total, the projects submitted to NYSERDA and NYPA represent more than 4 GW and 9 GW of renewable energy capacity, respectively. NYPA received many proposals incorporating a pre-paid power purchase agreement, designed to lower the financing costs and costs to customers.

“The pool of eligible bid facilities represents a pipeline of renewable energy projects that could generate more than 9.5 million MWh per year – more than six times the quantity sought under the solicitation,” says Alicia Barton, NYSERDA’s president and CEO. “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.”

NYSERDA’s final bid proposals are due by Sept. 28, and a selection is expected in November. NYPA expects to complete contracts with winning developers in the first half of 2018.

“We are very pleased with the caliber of the proposals received and are confident that new clean energy projects will soon be underway to help reach Governor Cuomo’s aggressive clean energy goals,” adds NYPA’s president and CEO, Gil C. Quiniones. “Our plan is to make a significant investment in renewable energy with our customers, and in doing so, we will take a big step toward a transition to clean power and reducing New York’s carbon footprint.”

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