NYSERDA Issues New York’s First Offshore Wind Energy Solicitation
On November 8, 2018, the New York State Energy Research and Development Authority (“NYSERDA”) issued its first request for proposals (“RFP”) for offshore wind renewable energy credits (“ORECs”) associated with 800 MW of offshore wind energy capacity. The State’s first OREC RFP is a significant step toward achieving Governor Andrew M. Cuomo’s goal of generating 2,400 MW of offshore wind energy capacity by 2030. This RFP was issued pursuant to the New York State Public Service Commission’s (“PSC’s”) July 2018 Order, about which SPR has previously written.
Through this RFP, NYSERDA may select offshore wind energy projects of between 200 and 800 MW, although each bidder must include at least one 400 MW proposal. The RFP aims to solidify the offshore wind industry in New York through the creation of well-paying jobs, the engagement of coastal communities, the incentivization of in-state infrastructure investments, and the consideration of the interests of fisheries and environmental stakeholders. As such, NYSERDA will award proposals not merely based on price, but also on economic benefits and project viability.
RFP responses are due on February 14, 2019, with awards expected in time for contracts to be executed before currently-available federal tax incentives expire.
This RFP builds upon the State’s efforts to support offshore wind energy development in New York, which included the issuance of its Offshore Wind Master Plan in January 2018. SPR advised NYSERDA on the development of the Offshore Wind Master Plan and on the RFP, and continues to work with NYSERDA on related offshore wind energy matters. For more information about offshore wind, please contact Dan Chorost, Elizabeth Knauer, Jeff Gracer, Katherine Ghilain, or Joyce Kung.