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 (£16.17) of production over the 20-year term of the awarded contracts.
Renew Economy 18th March 2020 read more »