Governor Kathy Hochul of New York State has recently unveiled plans for the auction of the state’s first “Build-Ready” project. This initiative, undertaken in accordance with the Accelerated Renewable Energy Growth and Community Benefit Act, aims to foster large-scale renewable energy development across the state. The New York Energy Research and Development Authority (NYSERDA) is actively seeking a partner to transform an underutilized former mine in St. Lawrence County into one of the largest solar projects in the Adirondack Park.

Transforming Underutilized Land for a Sustainable Future:
This ambitious project intends to convert a former tailings pile within the boundaries of Benson Mines into a 12 MW solar development. By repurposing this site, the Benson Mines solar project will not only generate clean energy but also support local industries and contribute to New York’s ongoing clean energy transition. Governor Hochul expressed her enthusiasm for the project, stating that it would provide affordable, zero-emission energy to residents of St. Lawrence County.

Partnerships and Progress:
To bring the project to fruition, NYSERDA has secured an exclusive lease option agreement with Benson Mines Inc. for the project area. The agency has also obtained full permits from the Adirondack Park Agency (APA) for this significant undertaking. Additionally, NYSERDA has advanced the project to the mid-stage of the state’s interconnection process and will be providing estimates of interconnection costs to eligible bidders.

Auction and Application Process:
NYSERDA, acting as the Build-Ready program administrator, will facilitate the auction to identify a suitable partner for the project. The selected bidder will enter into agreements with NYSERDA to acquire the project and complete the remaining development and construction activities required to make it operational.

To provide interested parties with essential information about the project and the auction process, NYSERDA will host an informative webinar on October 17 at 11:00 a.m. ET. Those wishing to participate can register for the webinar by visiting the provided link.

Regarding the application process, the project’s implementation involves a two-step procedure. First, interested parties are required to submit step one eligibility applications by December 7. Proposers must meet the minimum eligibility criteria and will be invited to proceed to the second step—submitting their proposals by March 14, 2024. For detailed information regarding the application process, potential proposers can refer to the provided link.

Looking Ahead:
NYSERDA aims to notify the selected bidder in the second quarter of 2024, marking a significant milestone in New York State’s renewable energy growth. The execution of the Benson Mines solar project will not only contribute to achieving the state’s clean energy goals but also provide economic and environmental benefits to St. Lawrence County.

The Build-Ready auction presents an exciting opportunity for interested partners to collaborate with NYSERDA and transform a former mine into a large-scale solar project. By harnessing solar energy, New York State aims to pave the way towards a more sustainable future while creating economic opportunities and reducing carbon emissions.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The energy market is highly volatile, and readers should conduct thorough research before making any investment decisions.