Source: Flickr/Paul Cooper
Cayuga Operating Company (COC), the owner of a coal-fired plant in Tompkins County, New York, has announced plans to construct one of the state’s largest solar farms for an investment in excess of US$25 million.
The proposed large-scale farm, known as Cayuga Solar, will generate 18MW of electricity upon completion and will be situated on the 175 hectare site in Lansing. The company claims it will create up to 150 jobs during construction phase.
“This project will create an estimated 150 construction jobs and begin to decrease our region’s reliance on conventional sources of energy. The fact that this solar farm is being built at an existing coal plant represents a growing commitment by Cayuga to transition towards cleaner energy,” said New York State senator Pam Helming. “Anytime investments are made to reduce carbon emissions, it is a win for the economic viability of our region and a benefit to the environment. I want to thank and commend Cayuga Operating Company for making this project a reality.”
“The co-location of a large-scale solar farm with an existing coal plant represents the energy transition underway in New York and across the United States,” said Jerry Goodenough, the vice president of Development for Cayuga. “We recognize and embrace the role renewable energy will play in the better energy future we all want for New York, and this project will help keep New York on a path to achieve its stated renewable energy goals. We see Cayuga Solar as an important part of Cayuga’s future commercial viability as well.”
The coal plant owner also confirmed it will be bidding into the upcoming Request for Proposals (RFPs) for large-scale renewable energy purchases by New York State Energy Research & Development Authority (NYSERDA), and will also be exploring PPAs for large-scale renewable energy projects.
The development of the Cayuga solar farm is the first phase of COC’s multi-phase development plan that envisions repowering the existing coal plant with natural gas, and ultimately creating an “energy park” on the site to locate manufacturing and other commercial operations.
The USA solar pipeline hit 9.8 GW in August 2019, according to market analysts, Wood Mackenzie so what does this mean for the solar sector moving forward? Are module shipments constrained? Have manufacturers raised prices for late-comers? What impact will this have on 2020 projects and what can we expect for the ITC negotiations? These questions and more will be discussed in this informative, free webinar. - With almost 10 GW of solar pipeline, how is this affecting the supply chain and cost for panels? - How likely is it that the ITC will be renewed, what trends are emerging in terms of beating the step down? - How helpful are emerging trends and technologies (e.g. bifacial panels, floating solar, data aggregation and management) in helping to beat the ITC step down? - Trade wars: what impact did section 201 have on the market, and what could we expect moving forward This webinar acts as a primer for the Solar & Storage Finance Summit which takes place on 29 & 30 October in New York City.
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability.
Now in its sixth successful year, Solar & Storage Finance USA is the only event which looks at raising capital for solar, storage and collocated solar and storage projects in the USA. The conference will help delegates understand how providers are evolving propositions for storage and how they can access capital for standalone solar or storage, and co-located projects. Meet debt providers, funders, utilities, corporate off takers and blue chip energy firms with capital to invest and developers with credible pipelines.