New York Power Authority prequalifies 5 additional renewable developers and investors for collaboration opportunities

Prequalified entities to help NYPA implement its expanded authority to build renewables and advance state’s climate action goals

New York Power Authority Press Release

The New York Power Authority (NYPA) has prequalified five additional private developers and investors to collaborate with NYPA on the development of renewable energy generating projects, including solar photovoltaic, wind, battery storage, green hydrogen, geothermal, and related transmission. Those five are in addition to the 79 entities selected in May – some of which were qualified only for one technology or category. They were identified through a competitive request for qualifications, released in March, that sought interest and information from renewable developers outlining their experience and qualifications. The RFQ will remain open through Sept. 30. Interested applicants are encouraged to apply now through [email protected].

“We are pleased to add five more qualified entities to our growing list of developers and investors,” NYPA President and CEO Justin E. Driscoll said. “With like-minded clean energy collaborators that have a depth and breadth of expertise, we will be able to move quickly to realize new renewable energy generation that will benefit all New Yorkers.”

The approved entities are prequalified for five years and may now respond to both future requests for proposals or other procurement offerings from NYPA, where there will be the opportunity to submit complete project proposals, including terms and costs. Respondents were assessed based on several considerations, including an evaluation of experience, financial overview, partnership structure customization and flexibility, knowledge of market dynamics and incentives, proven engagement within New York state, and team size and resources.

NYPA will continue to evaluate statements of qualifications it receives from additional entities that are interested in co-development or co-investment opportunities through Sept. 30, when this RFQ closes. Companies that do not qualify for this solicitation may respond to similar future procurement actions that better align with their business models.

“Five more qualified organizations have met our criteria,” said Vennela Yadhati, NYPA vice president of renewable project development. “We are very pleased with the continued response and encourage all those who are interested to please apply by Sept. 30.”

A robust response to an earlier NYPA request for information, as well as discussions with stakeholders – including those consulted in NYPA’s first annual conferral process completed late last year – helped inform the prequalification process.

NYPA is proceeding with a planning process that will include conferrals and public hearings this fall on its renewable energy development strategic plan, which NYPA will publish in January 2025.

The 2023-24 enacted state budget provided NYPA with enhanced authority to plan, design, develop, finance, construct, own, operate, maintain and improve renewable energy generation and storage projects – either alone or in collaboration with other entities – to help support the state's renewable energy goals in the Climate Leadership and Community Protection Act; maintain an adequate and reliable supply of electric power and energy in the state; and support the new REACH program, which will enable low-income and moderate-income electricity customers to receive bill credits through the production of renewable energy by NYPA.

The Power Authority’s positive impact on New York’s carbon footprint dates to the 1950s and 1960s when it constructed the state’s largest hydroelectric power plants in Niagara and Massena. Over decades of innovation – from modernized generation and transmission to renewable energy and clean transportation – NYPA is now well-positioned to help the state move into the next era of renewable energy production and realize its bold clean energy goals.