New York State announces nearly 1.3GW of low-cost new renewables, storage

New York State governor Andrew Cuomo has revealed the winners of the third tender conducted by the New York Energy Research and Development Authority, which amounted to 1,278MW of new large-scale solar, wind, and energy storage projects across the state – and all delivered at stunningly low prices.

The new slate of renewable energy projects – some of which are expected to break ground as early as late-2020, and all of which are expected to be completed by 2024 – include 17 new ground-mounted solar projects totalling 1,090MW, and 40MW of battery storage projects.

Additionally, three existing wind farms will be repowered leading to an increase in new renewable capacity of 35.8MW, while a development of a new 145MW wind farm was also awarded a procurement contract.

The 21 projects are expected to generate over 2.5 million megawatt-hours of renewable energy each year – enough electricity equivalent to powering over 350,000 homes and enough to reduce emissions by more than 1.3 million metric tonnes annually, itself the equivalent of taking nearly 300,000 cars off the road every year.

Importantly, bid prices for this third round of procurement included project bid offers 23% lower than bids received three years ago. The weighted average award price for this third  solicitation is $US18.59/MWh of production over the 20-year term of the awarded contracts.

“New York continues to be a leader in developing large-scale renewable energy projects in a way that brings significant economic benefits and jobs to the state,” said Cuomo. “With these projects we will build on our aggressive strategy to combat climate change and lay a foundation for a more sustainable future for all New Yorkers.”

The New York Energy Research and Development Authority believes the new projects will spur over $US2.5 billion in direct, private investments toward the development, construction, and operation of the projects, as well as the creation of over 2,000 short- and long-term jobs.

The 2020 procurement awards also go a long way to accelerating New York State’s progress towards its own Green New Deal, which seeks to obtain 70% of the state’s electricity from renewable energy sources by 2030, as well as support the State mandate for a 100% carbon-free electricity sector by 2040. New York State will contribute $US1 billion in State investment towards the awarded projects.

“Under Governor Cuomo’s leadership and as emphasized in his 2020 State of the State address, New York’s steady advancement of large-scale renewable energy projects is helping create a clean energy future faster and more affordable than ever anticipated,” said Alicia Barton, President and CEO, NYSERDA.

“Building on our success over the past three years, these projects, once completed, will deliver a significant amount of clean, renewable energy to all New Yorkers while helping to grow the state’s green economy. With the impacts of climate change being felt in New York and around the world, moving rapidly to renewable forms of energy is imperative.”

A number of the solar projects awarded procurement contracts are set to measure in at the very precise 19.99MW, however several larger-scale projects were also awarded, including three projects totalling 120MW, 145MW, and 180MW. More impressive still were the two solar projects which will be combined with 20MW of energy storage – the 270MW South Ripley Solar and Storage project and the 200MW Garnet Energy Center.