Home Global News Americas New York Governor announces US$26 Billion Green Energy Initiative

New York Governor announces US$26 Billion Green Energy Initiative

Governor Andrew Cuomo of New York announced a $26 billion Green Energy Initiative, a public-private partnership initiative that will include wind and solar projects throughout the state of New York during the 2021 State of the State address. The initiative is intended to lower CO2 emissions and provide jobs to New Yorkers. It represents the “path forward in stimulating the economy post-pandemic.” The green energy facilities planned to be constructed will be capable of producing 12,400 MW of electric power while resulting in 50,000 jobs and US$29 billion in private investment, with much of the impact felt in Upstate New York.

Also Read: Moynihan Train Hall opens, New York

The Green Energy Initiative will involve solar and wind facilities in less populated areas of New York, including building transmission capacity. Governor Cuomo announced the opening of a competitive bidding process to construct a green transmission grid, with plans to launch a competition for three separate projects designed to create an “energy superhighway” that will ultimately lead to a new state-of-the-art battery facility. Once completed, the project is expected to reduce carbon emissions by 16 metric tons per year. The governor is confident that New York can and will be the nation’s leader for renewable energy innovation and production.

One of the projects included is one where the state will contract with Equinor Wind US LLC for the development of two new offshore wind farms more than 20 miles off the shore of Long Island, in what is the largest procurement of renewable energy by a state in U.S. history. Upon completion, the two offshore wind farms will yield a combined 2,490 MW of carbon-free energy, bring another US$8.9 billion in investment, and create more than 5,200 jobs. More than half of the state’s electricity will come from renewable sources, putting the state ahead of schedule toward reaching its goal of 70 percent renewable energy by 2030.

LEAVE A REPLY

Please enter your comment!
Please enter your name here