New York Power Authority acquires its first fully owned solar project

The New York Power Authority (NYPA) used its expanded authority for the first time, acquiring full ownership of a 20 MW solar project in Fort Edward, New York.

New York Gov. Hochul gave the NYPA the authority to develop, own and operate renewable energy projects, either alone or in collaboration with other entities, in the state’s 2023–2024 budget. The NYPA was given this authority to help the state meet its clean energy target of producing 70% of the state’s renewable energy resources by 2030 and creating a zero-emission statewide electrical system by 2040. NYPA generates 22% of the state’s power, according to NYPA.

Earlier this year, the NYPA finalized its first strategic plan to expand renewable resources across the state. The plan will add more than 3 GW of renewable capacity from 37 projects to the state, 2.8 GW of which will come from 30 solar projects.

The Somers Solar project is the first of these projects. The NYPA, through its wholly-owned subsidiary the New York Renewable Energy Development Holdings Corporation (NYRED), will construct and operate the project on a 150-acre site about 50 miles north of Albany in the Capital Region.

Expected to begin operation in 2026, the project will sit on 146 acres about 5 miles north of Albany, New York. According to the NYPA, the project will create more than 100 union jobs during construction. The project was previously owned and being developed by CS Energy and will be operated by NYPA’s subsidiary, New York Renewable Energy Development Holdings Corporation. NYPA was represented by global law firm Norton Rose Fulbright for the Somers Solar deal. 

As the largest state-run public power organization in the United States, NYPA operates 17 generating facilities and more than 1,550 circuit-miles of transmission lines.

Per its charter, the NYPA is required to have a majority ownership in the projects it develops. However, the agency is exploring flexible development and ownership models, including Build-Transfer Agreements, where it fully acquires constructed projects at agreed-upon milestones, and direct project involvement, offering strategic support during development phases.

The NYPA Renewables Strategic Plan, which includes a list of the 37 projects it plans to add beginning on page 49, is available here.

NYPA reopened its Request for Qualifications to additional private developers when it approved its strategic plan, which will remain open until Sept. 30. Submissions can be made here, which NYPA will review on a rolling basis.

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