New York Governor Andrew M. Cuomo has announced more than 200 proposals were received from large-scale, clean energy project developers in response to two requests for proposals. The state expects to invest up to US$ 1.5 billion in new clean energy projects through the two RFPs, administered by the New York State Energy Research and Development Authority (NYSERDA) and the New York Power Authority (NYPA).
NYSERDA received 88 proposals from 30 clean energy developers and NYPA received more than 130 proposals from 51 clean energy developers in response to the requests for proposals. In total, the projects submitted to NYSERDA represent more than 4GW of renewable capacity, and projects submitted to NYPA represent more than 9GW of potential renewable energy supply for the state. NYSERDA's final bid proposals are due by September 28, with competitive selection and awards expected in November. NYPA received many proposals incorporating an innovative financing structure called a pre-paid power purchase agreement, which is designed to lower the financing cost - and costs to customers - for renewable projects. NYPA expects to complete contracts with winning developers in the first half of 2018.