GHG Emissions, Sourcing Renewables, Wind - July 19, 2019
New York signs largest offshore wind deal
New York Governor Andrew M. Cuomo executed the nation's largest offshore wind agreement and the single largest renewable energy procurement by any state in U.S. history - nearly 1,700 megawatts -with the selection of two offshore wind projects. The state has a target of 9,000 megawatts of offshore wind by 2035. Governor Cuomo also signed the Climate Leadership and Community Protection Act (CLCPA), which adopts ambitious and comprehensive climate and clean energy legislation.
The two projects, awarded as part of New York's first comprehensive offshore wind solicitation, are the Empire Wind and Sunrise Wind development projects of Equinor US Holdings, Inc. and Bay State Wind LLC, a joint venture of Ørsted A/S and Eversource Energy, respectively. To date, New York has awarded a total of approximately 4,700 megawatts of new large-scale renewable energy contracts since March 2018 through three separate solicitations. Collectively, these projects will provide enough renewable energy to power up to two million households and meet nearly 10% of New York's electricity needs by 2025.
The project developers have committed to making additional investments in manufacturing and port infrastructure, including $287 million toward cutting-edge infrastructure in multiple regions of the state, including the Capital Region, Brooklyn, Staten Island, and Long Island. According to a statement from the Governor’s office, “These financial commitments will unlock private supply chain capital and maximize the long-term economic benefits to the state from the regional development of offshore wind.”
"The environment and climate change are the most critically important policy priorities we face," Governor Cuomo said. "They literally will determine the future - or the lack thereof. Even in today's chaos of political pandering and hyperbole, there are still facts, data, and evidence - and climate change is an undeniable scientific fact. But cries for a new green movement are hollow political rhetoric if not combined with aggressive goals and a realistic plan on how to achieve them.”
The CLCPA requires the State to achieve a carbon-free electricity system by 2040 and reduce GHG emissions 85% below 1990 levels by 2050. The new law will drive investment in clean energy solutions such as wind, solar, energy efficiency, and energy storage.
Get Part 2 from Richard Heath plus free thought leadership from experts at Insight Energy
- Green Lease Leaders: How Industrial Building Owners Use the Lease to Optimize Sustainable Business Practices
- Google Environmental Report 2019
- Webinar replay: Why finance should lead sustainability efforts
- Future Proof Your Business with integrated Storage, Solar, and Smart EV Charging
- Taking a Utility Platform Player position for your customers... and society