New York State Governor reveals funding for 11 renewables projects, including solar parks, wind farms and hydroelectric dam upgrades
New York’s Governor Andrew Cuomo used his State of the State 2017 plan issued earlier this week to announce $360m of funding for 11 large-scale renewables projects in the State, in the latest sign progressive states are keen to press ahead with their clean energy programmes in spite of Donald Trump’s election as President.
The funding, invested via the New York State Energy Research and Development Authority, aims to leverage almost $1bn in additional private investment in the clean energy projects, which include new wind and solar farms alongside upgrades to key hydroelectric installations across the state.
In total, the 11 projects will generate enough clean energy to power more than 110,000 homes every year and cut carbon emissions in New York State by more than 420,000 metric tonnes, officials said. New York State has a target of source at least 50 per cent of its energy from renewable sources by 2030.
In his 2017 State of the State document Governor Cuomo also stressed the economic benefits the investment will deliver. “For every $1 invested in large scale renewable projects such as these, New Yorkers will realize $3 in economic benefits in the form of jobs, payments to public entities, in-state purchases of goods and services and land leases,” the plan notes.
It adds that once this funding round is completed, the State then plans to support an additional 35 new renewables projects by 2020, leveraging $4bn in public investment and up to twice that in the private sector.
“From Long Island to Buffalo, these new projects will help power the energy system of tomorrow while protecting our environment and creating skilled jobs in emerging sectors of the economy,” it concludes.