Policy & Regulation

New York Power Authority pre-qualifies 79 renewable developers, investors

New York Power Authority pre-qualifies 79 renewable developers, investors
(GE Verona's 6 MW turbine at a site in New York. Credit: GE Verona)

The New York Power Authority (NYPA) has pre-qualified 79 private developers and investors to collaborate with NYPA on developing renewable energy generating projects, including solar photovoltaic, wind, battery storage, green hydrogen, geothermal, and related transmission.

The selected entities, some of which were qualified only for one technology or category, were identified through a competitive Request for Qualifications (RFQ), released in March, that sought interest and information from renewable developers outlining their experience and qualifications.

The entities identified are prequalified for five years and may now respond to both future Requests for Proposals (RFP) 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, NYPA said, 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.

“Through this solicitation, we have identified 79 qualified potential partners that are eager to join with us to advance renewable energy generation at scale and help us advance the state’s bold climate agenda,” NYPA president and CEO Justin E. Driscoll said. “We are confident that building this stable of prequalified companies will allow NYP to move forward decisively in deploying additional renewable energy generation for the benefit of all New Yorkers.”

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The RFQ will remain open and NYPA will continue to evaluate statements of qualifications for additional participants that may be interested in co-development or co-investment opportunities. Companies that did not qualify for this solicitation may respond to similar future procurement actions, NYPA said.

“We are very encouraged by such a positive response to our RFQ,” said Vennela Yadhati, NYPA vice president of renewable project development. “Having a deep bench of qualified partners will allow us to proceed deliberately and expeditiously as projects are identified.”

NYPA will now proceed with a planning process including conferrals and public hearings 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.

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