New York Aims High for Renewable Energy

Researched by Industrial Info Resources (Sugar Land, Texas)--New York Governor Andrew Cuomo recently announced a $160 million investment aimed at growing large-scale renewable energy projects in the state. The Reforming Energy Vision (REV) initiative supports public-private partnerships to develop renewable energy, while expanding economic development opportunities and protecting the environment.

Renewable energy projects will be supported by 20-year contracts They include wind, solar, biomass, fuel cells, biogas, and the upgrading of small-to-medium size hydroelectric projects that provide power to the grid.

The initiative is supported by the New York State Energy Research and Development Authority (NYSERDA), through the state's Renewable Portfolio Standard (RPS). The RPS is New York's primary policy to promote the development of renewable energy resources.

Industrial Info is tracking 42 renewable energy projects in New York, with a cumulative value of about $7 billion. This includes 19 wind projects valued at $5.51 billion; a biomass project worth $140 million; 13 hydroelectric projects valued at $449 million; five solar projects valued at $136 million; and three tidal projects valued at $670 million.

The first Main Tier solicitation began in 2005, continuing about every year with the current ninth Main Tier solicitation awarded in July 2014, resulting in four contracts valued at $206 million. The awarded projects include the Arkwright Summit windfarm by EDP Renewables North America LLC (Houston, Texas) and the Jericho Rise windfarm by Jericho Rise Windfarm LLC and EDP Renewables, as well as the Delta Dam hydro project by the city of Watervliet, New York.

Renewable energy currently provides about 11% of the energy that New Yorkers use for transportation, heating, industrial processes and electricity, with the potential to meet as much as 40% by 2030, according to the New York State Department of Environmental Conservation.

The New York Power Authority (NYPA), Long Island Power Authority (LIPA) and Consolidated Edison (NYSE:ED) (ConEd) (New York, New York) are working together to propose an offshore wind project to be south of Long Island, about 13 miles from Rockaway Peninsula. A lease request has been submitted to the U.S. Bureau of Ocean Energy Management (BOEM) from NYPA for up to 700 megawatts (MW) of offshore wind generation. The request is under review, and the BOEM recently called for nominations from companies and developers.

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