New York Power Authority Completes Agreements to Purchase 72 MW of Wind Energy

December 18, 2006

The New York Power Authority (NYPA) announced on December 8 that it has completed agreements with Horizon Wind Energy and PPM Energy Inc. for purchasing renewable energy certificates in the amount of 72 megawatts (MW) of capacity from two upstate wind farms. The certificates, also called "green tags", represent the renewable energy attributes of the output from the two wind power plants that is separate from the actual power output from the plants.

PPM Energy owns the Maple Ridge Wind Farm in Lewis County. An affiliate of Horizon, Cogentrix Energy Inc., is the developer of the Madison Wind Farm in Madison County. Cogentrix and Horizon Wind are both subsidiaries of Goldman Sachs Group Inc.

Governor George Pataki’s 2001 executive order requires that renewables account for 20 percent of the electricity purchases of state facilities by the end of the decade and a subsequent renewable portfolio standard calls for at least 25 percent of the electricity purchases in the state to come from renewables by 2013.

NYPA’s governmental customers to be served by the wind power agreements include the Port Authority of New York and New Jersey, the Metropolitan Transportation Authority, the City of New York, the New York City Housing Authority, and the City University of New York. Among the facilities to benefit from the wind power contracts will be the new Freedom Tower and other buildings at the World Trade Center.

For more information, read the NYPA December 8 press release.

Source: December 15 edition of SNL Energy Renewable Energy Week