New York Awards Contracts for 6.4 Gigawatts of Renewable Energy Projects

The New York State Energy Research and Development Authority on Oct. 24 awarded conditional contracts for three offshore wind and 22 land-based renewable energy projects that have a combined capacity of 6.4 gigawatts. The projects have the potential to power 2.6 million homes and deliver about 12 percent of the state’s electricity needs. The contracts, which represent the largest state investment in renewable energy in the U.S., would contribute to the goals of sourcing 70 percent of New York’s electricity from renewable sources by 2030 and nine gigawatts of offshore wind by 2035 as required by the 2019 Climate Leadership and Community Protection Act.

The offshore wind projects, with a combined capacity of 4,032 megawatts, are expected to generate over $15 billion in anticipated in-state spending and create more than 4,200 jobs over the 25-year lifespan of the projects. The three offshore wind projects include: the 1,404 MW Attentive Energy One developed by TotalEnergies, Rise Light & Power and Corio Generation; 1,314 MW Community Offshore Wind developed by RWE Offshore Renewables and National Grid Ventures; and 1,314 MW Excelsior Wind developed by Vineyard Offshore (Copenhagen Infrastructure Partners).

The conditional land-based large-scale renewable awards include 14 new solar projects, six wind repowering facilities, a new wind project, and a return-to-service hydroelectricity project, for a collective capacity of 2,410 megawatts. These would generate new renewable generation capable of supplying over 560,000 homes annually for at least 20 years. The projects are expected to generate over $4 billion in direct investments and 4,100 jobs across the state.

Together, the offshore wind and land-based projects would produce about 19 million megawatt-hours of energy annually, enough to supply over 2.6 million homes and achieve annual emissions reductions of 9.4 million metric tons. The projects would yield benefits to disadvantaged communities consistent with the Climate Act goals, with more than $3.5 billion in commitments from developers.

The awards mark the commencement of contract negotiations with the awarded parties, and are conditional on successful contract execution. With these awards, New York will have sufficient operating, contracted, and under development projects to supply 79 percent of the state’s 2030 electricity needs with renewable energy. The announcement of the conditional awards also mark the first in a series of actions taken under New York’s recently announced 10-point Action Plan to address recent macroeconomic and inflationary challenges that have affected the renewable energy sector.