ARTICLE
Last week, the NYS Public Service Commission (PSC) dismissed requests from companies for bigger payments to complete large-scale wind, solar and offshore wind projects. This sets off a scramble for developers to decide whether to cancel contracts with NYSERDA, sacrificing millions of dollars in security payments. It also places New York’s clean-energy ambitions in peril according to energy advocates. The “inflation adjustment” was sought on behalf of a number of companies including developers for New York’s first NYSERDA-contracted projects. The PSC chairman told the off-shore wind developers that the “PSC expects all developers, no matter how large, to abide by their commitments.” Those commitments include support for offshore wind ports and supply chain investments in New York, including at the Port of Albany. Our legislative consultants at Park Strategies tell us that it is not clear whether developers will continue their investments and efforts for those New York projects without the contractual commitment to provide economic benefits in the state.
Last week, the NYS Public Service Commission (PSC) dismissed requests from companies for bigger payments to complete large-scale wind, solar and offshore wind projects. This sets off a scramble for developers to decide whether to cancel contracts with NYSERDA, sacrificing millions of dollars in security payments. It also places New York’s clean-energy ambitions in peril according to energy advocates.
The “inflation adjustment” was sought on behalf of a number of companies including developers for New York’s first NYSERDA-contracted projects. The PSC chairman told the off-shore wind developers that the “PSC expects all developers, no matter how large, to abide by their commitments.”
Those commitments include support for offshore wind ports and supply chain investments in New York, including at the Port of Albany. Our legislative consultants at Park Strategies tell us that it is not clear whether developers will continue their investments and efforts for those New York projects without the contractual commitment to provide economic benefits in the state.