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New York Issues Offshore Wind Solicitation

LCG, November 9, 2018--The Governor of New York yesterday announced a solicitation for 800 MW or more of new offshore wind projects to supply renewable energy to New York to combat climate change. The New York State Energy Research and Development Authority (NYSERDA) issued the Request for Proposals (RFP), which is the first key step in New York's plan to install 2,400 MW of offshore wind projects by 2030.

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Xcel Energy to Acquire Mankato Energy Center from Southern Power

LCG, November 8, 2018--Xcel Energy and Southern Power, a subsidiary of Southern Company, earlier this week announced an agreement for Southern Power to sell the Mankato Energy Center to Xcel Energy for $650 million. The completion of the sale, subject to regulatory approval and other closing conditions, is expected to be mid-2019.

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Industry News

New York Issues Offshore Wind Solicitation

LCG, November 9, 2018--The Governor of New York yesterday announced a solicitation for 800 MW or more of new offshore wind projects to supply renewable energy to New York to combat climate change. The New York State Energy Research and Development Authority (NYSERDA) issued the Request for Proposals (RFP), which is the first key step in New York's plan to install 2,400 MW of offshore wind projects by 2030.

The offshore wind projects expected to arise from the RFP will be critical to achieving New York's goal to satisfy 50 percent of its energy requirements with renewable energy by 2030. The goal is part of the Governor's Clean Energy Standard, which was adopted by the PSC in 2016. New York's Offshore Wind Master Plan was released in January of 2018, and the Public Service Commission's July 2018 Order Establishing the State's Offshore Wind Standard provided the basis to issue this RFP for wind power.

The Governor stated, "This action is a watershed moment in New York's renewable energy development efforts as we work to establish a secure, reliable and cost-effective clean energy future. New York will continue to combat climate change, investing in robust offshore wind development and clean energy that provides a path toward a greener and more sustainable future in our state and around the world."

Under the solicitation, NYSERDA has the ability to award 25-year long-term contracts for projects ranging from approximately 200 MW to approximately 800 MW, with an ability to award larger quantities if sufficiently attractive proposals are received. Awards are expected in Spring of 2019 and contracts are expected to be executed thereafter to take advantage of expiring federal tax credits.

NYSERDA will award proposals according to both the price offered by the proposer as well as economic benefits and project viability. Through these solicitations, NYSERDA will procure Offshore Wind Renewable Energy Certificates, ORECs, from awarded facilities.

The RFP includes requirements for wage and labor agreements by offshore wind developers to ensure that the projects deliver high-quality jobs for New York workers.

The New York Public Service Commission Chair stated, "The development of offshore wind energy is central to achieving Governor Cuomo's goal of 50 percent renewable energy by 2030 with good, clean well-sited projects. With this step, New York is leading the development of this great resource and industry, and set to achieve great quantities of good clean power as we drive costs down dramatically, as well as to create thousands of good-paying jobs and millions of dollars of investment in our coastal communities and in New York."
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