New York procurement of offshore wind – summary of plans for first 800 MW
On the July 12, 2018, New York’s Governor Andrew Cuomo announced plans directing the procurement of approximately 800 MW of offshore wind to “jumpstart” the industry. The New York State Public Service Commission has set a course for the state’s first procurements of offshore wind to support New York’s goal of 2,400 MW of new offshore wind generation by 2030. This first phase of the state’s procurements includes obtaining approximately 800 MW of offshore wind by 2019.
This article provides a summary of the Order Establishing Offshore Wind Standard and Framework for Phase 1 Procurement. The order gives details on how the New York State Energy Research and Development Authority (NYSERDA) will be soliciting the first 800 MW and the rules developers, state-owned utilities, and load-serving entities must abide by in this process. Many of the requirements set forth in this order were designed as easily-implementable and feasible options to jump start offshore wind development in New York and allow developers to utilize the Investment Tax Credit (ITC). The first solicitation will be held by NYSERDA in the fourth quarter of 2018.
The key points from the order are summarized below:
Offshore wind goal
The commission has adopted the Governor’s goal of procuring Offshore Wind Renewable Energy Credits (ORECs) associated with 2.4 GW of offshore wind capacity.