On January 2, 2024, the New York Power Authority (NYPA) issued a request for information (RFI) on opportunities for NYPA to collaborate with developers to develop, own, and operate renewable energy generating projects and energy storage systems in New York State. Responses, which may be sent to NYPARenewables@nypa.gov, are due February 7, 2024.
Per NYPA President and CEO Justin Driscoll, this RFI represents an effort to "engage with renewable developers directly to identify opportunities in the energy marketplace," including joint development opportunities. It builds on NYPA's November 2023 Conferral Report, in which NYPA reaffirmed its intention, among other things, to "build out renewable generation equivalent to the capacity that will be lost by the ultimate retirement of its fossil fuel plants."
The 2023-24 Enacted State Budget authorized and directed NYPA to develop, finance, construct, own, and operate renewable generating projects in New York, either alone or jointly through public-private agreements. NYPA must exercise this authority to (1) support the State's renewable goals under the Climate Leadership and Community Protection Act of 2019, (2) provide or maintain an adequate and reliable supply of electric power and energy in the State, and (3) support the newly-authorized Renewable Energy Access and Community Help (REACH) Program for the purpose of providing bill credits to low-income and moderate-income ratepayers in disadvantaged communities.
Information received through the RFI will inform NYPA's next steps. Beginning in 2025, and biennially thereafter, NYPA must develop and publish a strategic plan that identifies NYPA's renewable energy generating priorities for the following two-year period.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.