The New York State Energy Research and Development Authority (NYSERDA) (United States) has awarded 21 solar, wind and energy storage projects across the state, totalling 1,278 MW of power capacity. The auction, totalling US$1bn in State investment, will lead to more than US$2.5bn in private investment.
The weighted average bid price for the 17 solar plants and 4 wind parks stood at US$18.6/MWh over the 20-year term of the awarded contracts. The projects range between 20 MW and 270 MW (ConnectGen's South Ripley solar and storage project including 270 MW of solar capacity and 20 MW of storage). Some of the 21 projects are expected to break ground as soon as late 2020 and all of them should be operational by 2024.
In January 2019, the governor of New York announced a new offshore wind capacity target of 9 GW for 2035, which is a nearly fourfold increase compared with the previous target of 2.4 GW by 2030. The additions in offshore wind capacity are essential in order to achieve its renewable electricity target of 70% by 2030, up from the previous target of 50%. The state also committed to 6 GW of solar capacity (up from 3 GW) and to double its onshore wind capacity by 2025. The state also committed itself to move to 100% carbon-free electricity by 2040 in December 2018, shortly after the notice of a new policy setting an electricity storage objective of 3 GW by 2030 with an interim goal of 1.5 GW by 2025.
Do you want to become an expert on renewable energies auctions?
Discover our very detailed and regularly updated RES auctions database with worldwide coverage and a technical focus backed by academic research.
With our renewable energies auctions service you will be able to monitor auctions at a global level. Its (expanding) scope notably includes all major G20 countries and offers an especially fine tracking on Europe and South America.