Repsol and ConnectGen, the American renewables firm that bought the Spanish company last year, They are looking to launch their label in New York. The multi-energy company presented a project for the codevelopment fingers 520 megawatt (MW) photovoltaic parks next to the New York Power Authority (NYPA), the largest state-owned public power company in the country.
According to the documents of the state authority, two ConnectGen/Repsol parks have prequalified for their launch in conjunction with the NYPA. The public company is immersed in plans to decarbonize the energy system of the State of New York for 2030, for which it has developed an inaugural plan that adds 40 renewable projects —among them that of Repsol— throughout all the regions of the state, a plan that will launch 3.5 GW of power green.
This section includes the so-called Project C1 and Project C2, one of the first projects of the pipeline —plans in the portfolio— of the firm run by Josu Jon Imaz together with ConnectGen after his transfer. The first park will be located in the center of New York State and will have 250MW of generation power. Its start-up is estimated for end of next year. The second will be located in the west of the state and will add other 270MW, although its construction is expected to be completed in first quarter of 2027.
In addition to Repsol, other firms in the sector such as Boralex or NextEra They also presented their proposals for co-development with the public energy entity.
energy authority
Later this month, the US Power Authority’s Board of Trustees will vote on establishing a wholly owned subsidiary that will allow NYPA to provide more external capital. ease of projectsas well as “protect the Energy Authority against risks of developments”indicates the document.
The board of directors will also vote in October 2024 on an initial investment of 100 million dollars for new generation of renewable energy.
In the draft, NYPA explains that, despite having significant financial advantages in project development due to its high credit rating and his condition of tax exemptthe company’s statute has other implications for how it can and cannot develop projects.
Its statute requires that the public entity maintain the majority ownership of the facilities, this implies that each project in its portfolio is developed according to a co-development scheme or construction and transfer of ownership in association with a private developer.
The NYPA states that “keep working” with qualified promoters to continually seek new opportunities.
In addition, it has announced five in-person public meetings that will be held next November in locations throughout New York and one virtual public meeting that will be held on Zoom. will accept public comments on draft plan until at least December 6, 2024.
The NYPA Board of Directors will vote on approval of the draft plan in January 2025.
#Repsol #prepares #photovoltaic #parks #State #York
