Penny Stock Buzz: Zeroing in on RadiSys Corporation (NASDAQ:RSYS) – Nelson Research

New York awards $1.4 billion to 26 renewable energy projects – Electric Power

Blue Technology

New York Governor Andrew Cuomo Friday announced that 26 large-scale
renewable energy projects were selected to help the state meet its clean
energy goals, and he pushed back against the Trump administration’s
offshore oil and gas drilling plans.

“We believe the future is a clean energy economy, and New York is going
to lead a counter-movement to what this administration is doing to the
environment and illuminate the path forward,” Cuomo said during an event
that was webcast from New York University.

The renewable energy projects consist of 22 utility-scale solar farms,
three wind farms and one hydroelectric project that will collectively add
over 1,380 MW of capacity. One of the wind farms incorporates an energy
storage component, which marks the first time a large-scale renewable
energy project has included storage in New York State, according to a

Calpine Corp. will build the 122-MW Bluestone Wind project, coupled with
6.2 MW of energy storage, in the towns of Windsor and Sanford.

The projects were awarded in response to the New York State Energy
Research and Development Authority’s 2017 Renewable Energy Standard
request for proposals issued in June 2017. This was the first RFP under
the state’s Clean Energy Standard, which mandates 50% of New York’s
electricity must be generated from renewable energy sources by 2030.

The weighted average price was $21.17/MWh over the 20-year term of the
awarded contracts. Several projects will break ground as early as April
2018, and all projects are expected to be operational by 2022. The
winning bids were selected from a pool of 88 applications from 30 clean
energy developers.


New York’s total installed solar capacity, including residential,
utility-scale and non-residential solar installations, is 1,176 MW,
according to data through third-quarter 2017 from the trade group Solar
Energy Industries Association.

An incremental 645 MW of utility-scale solar capacity from the 22 solar
projects selected will significantly increase the state’s total. The
results of the solicitation demonstrate that large-scale solar power is
“now economically viable across New York State for the first time,”
according to the statement.

NYSERDA will issue the next solicitation for large-scale renewable energy
under the Clean Energy Standard on April 25, 2018. To help meet the
state’s commitment to deploying 1,500 MW of energy storage by 2025,
NYSERDA is encouraging proposals that cost-effectively pair renewable
energy with advanced energy storage technologies.

NYSERDA anticipates making awards in September and issuing a subsequent
solicitation, if needed, in November.


In addition to announcing the renewable energy project selections, Cuomo
formally requested an exclusion from the five-year National Outer
Continental Shelf Oil and Gas Leasing Program proposed by the Trump

In January 2018, the federal government introduced its offshore drilling
plan, which proposes to make over 90% of the total US offshore acreage
open to oil and gas drilling. The plan would open two North Atlantic
Coast areas adjacent to New York for fossil fuel exploration. An
exclusion from the offshore drilling program was granted to Florida
shortly after its launch on the grounds that the Sunshine State heavily
relies on tourism as one of the nation’s top ocean economies.

New York State “strongly opposes” the Department of the Interior’s
offshore leasing program as it “poses an unacceptable threat to New
York’s ocean resources, to our economy and to the future of our
children,” according to the statement.

“His [Governor Cuomo’s] vision and leadership stand in stark contrast to
the Trump administration’s malignant mission to make us even more
dependent on the dirty and destructive fossil fuels,” former US Vice
President Al Gore said.

In his comments, Gore said coal is receding and gas is being “outcompeted
in the marketplace by electricity from renewables.” Many are predicting
that by the end of 2018, electricity from solar is going to be one
cent/kWh, which is “like a quarter of the cost of electricity from
burning fossil fuels,” Gore said.


“The proof is in the pudding: competition brings out the best in
developers,” Gavin Donohue, president and CEO of trade group Independent
Power Producers of New York, said in an email.

“If there were any questions about the effectiveness of fixed-price REC
contracts, today those questions were answered. Competition leads to
innovation, which ultimately leads to wins for New Yorkers at lowest
cost,” he said.

— Jared Anderson,

— Edited by Rocco Canonica,

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *