N.Y. governor announces $250 million for renewable power projects

New York Gov. Andrew Cuomo has announced $250 million in funding for biomass-based electricity generation projects and other renewable energy installations. The funding will be administered by the New York State Energy Research and Development Authority as part of the state’s renewable portfolio standard (RPS). The funding will be awarded on a competitive basis and winners will be announced by summer 2013.

According to the Governor’s office, the RPS program has been successful at attracting clean energy investments and in diversifying the state’s energy mix. Over the next 20 years, projects currently underway will create a direct benefit to the state of $2.4 billion. On the broader economy, the effects of clean energy investments will reach $4.9 billion.

NYSERDA currently has 54 large-scale renewable electricity generation contracts, accounting for enough power for more than 650,000 homes per year. Those projects include two biomass facilities, 10 landfill biogas operations, 25 hydroelectric facilities and 17 wind farms.

The $250 million in funding is part of the governor’s Energy Highway Blueprint, a plan to upgrade and modernize the state’s aging energy infrastructure.

For more on New York’s RPS, visit the NYSERDA website. Additional information on the Energy Highway Blueprint is available here.