New York Commits to Renewable Energy

Albany, New York [] The New York State Energy Research and Development Authority (NYSERDA) and the New York State Public Service Commission (Commission) announced that 21 electric generating facilities in New York have been selected to provide renewable energy to New York consumers in the second competitive solicitation under the Renewable Portfolio Standard (RPS) Program. The award group includes ten existing hydroelectric facilities that have been or will be upgraded, nine new wind facilities, and two biomass facilities. The 21 contract awards total approximately $295 million and will be paid out over a 10-year period as performance incentives for these facilities to produce and deliver electric energy to the New York grid. Performance incentives will average approximately $15 per megawatt hour (MWh). Construction of the new wind facilities and upgrades of existing hydro and biomass facilities are expected to be completed by fall of 2008.
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