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NYPA’s solicitation seeks utility-scale renewable projects that will produce an annual output of up to 2 million MWh or more. 2 • New Jersey opened its second offshore wind solicitation in %%EOF 1796 0 obj <>stream The United States has a vast offshore wind energy resource ... • In June 2019, New Jersey granted the state’s first OREC award to Ørsted’s 1,100 MW Ocean Wind project, the largest offshore project planned in the U.S. to date. New Jersey recently jumped its offshore wind target to 7.5 gigawatts, with Governor Phil Murphy claiming half of the state’s electricity could come from offshore wind by the mid-2030s. These offshore wind Developers of selected projects will enter into contracts to sell RECs, energy and/or capacity to NYPA or a designated entity, and are required to have a nameplate generation capacity that is 20-25 MW or 100 MW or greater. If fully awarded, New York will have obtained contractual commitments for approximately half of the 9,000 MW of offshore wind capacity it is required to obtain by 2035 under the Clean Energy Standard. In October 2019, NYSERDA finalized New York’s first two OREC contracts with Equinor US Holdings, Inc., for the 800-MW Empire Wind Project, and with Sunrise Wind LLC, a joint venture of Ørsted A/S and Eversource Energy, for the 880-MW Sunrise Wind Project. The state will provide up to $100 million in either reimbursable grant funding and up to $100 million in secured financing to assist developers of chosen projects with implementation of their respective PIIPs. In 2017, the Maryland Public Service Commission (MDPSC) awarded the state’s first OREC agreements to the 120 MW Skipjack and 248 MW US Wind projects. 1785 0 obj <>/Filter/FlateDecode/ID[<3ED458C99D019841B07E339B6D86059B><6137529F8EB5EC4F9058B112A89CC2B6>]/Index[1770 27]/Info 1769 0 R/Length 88/Prev 729905/Root 1771 0 R/Size 1797/Type/XRef/W[1 3 1]>>stream Submissions in response to NYPA’s solicitation are due September 14, 2020. 0 Kickstarting round two of New York State’s nation-leading support of offshore wind projects through the purchase of Offshore Wind Renewable Energy Credits (ORECs), on January 28, 2020, the New York State Energy Research and Development Authority (NYSERDA) filed a petition with the New York Public Service Commission (Commission) seeking authorization to procure at least … Projects selected in the OREC-RFP will earn indexed-based performance payments for their Offshore Wind Renewable Energy Certificates (OREC) representing the environmental attributes associated with one megawatt-hour (MWh) of electricity generated from offshore wind resources and consumed by retail customers in New York State. 48:3-87.1(c)(4). Cuomo also announced the opening of two solicitations for land-based renewable energy projects by NYSERDA and the New York Power Authority (NYPA), respectively. 14:8-6.6(a)(2). Offshore wind developer Ørsted has entered into an agreement to sell a 25% stake in its 1,1 GW Ocean Wind offshore wind project off the coast of Atlantic City to New Jersey’s Public Service Enterprise Group (PSEG).. PSEG’s contribution will include both a conventional and tax equity investment in the project, Orsted said, without disclosing the value of the transaction. }���E����Ӧ=2�Tps�̕�mgE�+��q���Ipe����x>��m������㑴�� �^��y��͚Z�s1���P�Y������>���*�z����}���8 W��k�:��GI�Z_�ϝ��"�b��+�����~p�"�N\���8�YQ�Ӟ�f‰3WV��r`AJ�z�����*nN��8Q=���1}c���}@%A^h}�b{�wv��2�sO��}�4����kGG�D��p3H���b @:��r@,&0��V� �F�D8: 00[���`�j��Q$"���hJ+�8l`q%0[b��b1B�2�Q��Lp}�E-N(�|�S�#@�� ��5�3��S�H��$8��20. The Business Network for Offshore Wind is a 501(c)(3) nonprofit dedicated to building a network that will usher the U.S. into the offshore wind market. The deadline for submitting an eligibility application under REC-RFP is August 27, 2020, and the deadline for proposals is October 21, 2020. Wind, Inc. and Skipjack Offshore Energy, LLC. Offshore wind is a renewable energy technology that reduces the need for fossil fuel generation. Offshore Wind Renewable Energy Certificates, or ORECs, represent the positive environmental attributes associated with one megawatt-hour (MWh) of electricity generated from offshore wind resources and consumed by retail customers in New York State. As a result of our Order, these companies are enabled to construct 368 megawatts (“MW”) of offshore wind capacity in the Atlantic Ocean, yielding in the aggregate over $1.8 billion of in-State expenditures and spurring the creation of almost 9,700 new Maryland jobs. Offshore Wind Energy Development in the U.S. As part of their proposals, OCREC-RFP requires offshore wind developers to submit a Port Infrastructure Investment Plan (PIIP) that includes at least one of the 11 prequalified New York ports to stage, construct, and manufacture key components, or coordinate operations and maintenance activities associated with the project. Per Section 2.1.3, Each Proposal must be for ORECs delivered from an Offshore Wind Generation Facility with an Offer Capacity of at least 400 MW and up to 2,500 MW. For the total annual OREC allowance for a qualified offshore wind project, the rules provide that, “once approved by the Board, shall not be subject to reduction or modification during the term of each OREC order unless otherwise agreed to by both parties.” N.J.A.C. (,H�P���y���)�QC`���-:\���4�3]b-�~Q\uKd>'�S&���BdV{u}]��)l�֥^QW��F�l_��$�m����s�f���7�Wps��9i��;r.z>� m&n$�������.f��N��JW|��v蓑܋���g�w�e�yH�{͑6��8����Ҍ��K�k��>� Home > Renewables > New York Doubles Down On Offshore Wind and Sets Renewables RFP Record. The first programme of its kind for the continuous collection of anonymous data around subsea cable failures in offshore wind. Join us and help ensure the safe and environmentally responsible development of the U.S. offshore energy and marine mineral resources. As such, this document was prepared in compliance with Section 515 of the Treasury and General Government The Empire Wind and Sunrise Wind projects have an average all-in development cost of $83.36 per megawatt hour (2018 dollars) with an expected average OREC (offshore wind REC) cost of $25.14 per megawatt-hour. Created a financial support mechanism for “Qualified Offshore Wind Projects” via Offshore Wind Renewable Energy Credits (ORECs). Outside of New York, offshore wind development continues along the East Coast: On November 19, 2019, New Jersey Governor Phil Murphy signed an executive order raising the state’s goal of 3,500 megawatts (MW) of offshore wind energy by 2030 to 7,500 MW by 2035. New York Doubles Down On Offshore Wind and Sets Renewables RFP Record, DOE Rule Sharply Limits Evaluation of Environmental Impacts of LNG Exports, California Employers Must Comply with New Cal/OSHA COVID-19 Workplace Safety Standards, The CMA’s market study into the UK electric vehicle charging sector, The UK’s 10-point Green Industrial Revolution Plan, Covington Experts Discuss Decarbonization Strategies in the EU and US at a Leading Global Sustainable Technology Conference, Law360 Names Covington’s Energy Practice One of Year’s Best. 4 Having a Project shift to merchant status following its twenty-year OREC term is called for by OWEDA, in which the legislature imposed a mandate for an offshore wind carveout in New Jersey’s renewable energy portfolio standard, A. The 816 megawatt (MW) offshore wind project will bring renewable energy to New York consumers, contribute to the State’s ambitious renewable energy development goals, and provide significant economic benefits to New York. Offshore Wind RFP Gov. The Act advised the Board of Public Utilities to establish a program for Offshore Wind Renewable Energy Certificates (ORECs) to incentivize the development of offshore wind facilities. Cuomo’s announcement formally opened New York’s second offshore wind solicitation, ORECRFP20-1 (OREC RFP), which is administered by the New York State Energy Research and Development Authority (NYSERDA) and seeks projects totaling up to 2,500 MW of capacity. This renewable resource can be harnessed to generate clean, carbon-free electricity for the grid. The deadline for developers to submit notices of intent to submit a proposal for the OREC-RFP is September 23, 2020, and the proposal deadline is October 20, 2020. As previously reported, ESCOs and other LSEs will be assigned the OREC … By doing so, offshore wind can mitigate climate change impacts and support economic development for the New Jersey workforce. h�b```��,l�@��Y86 The Offshore wind developers are asked to report to the OREC Administrator and to the Board annually on actions taken by the developer to maximize offshore wind production and market revenues. The 1,100 MW of offshore wind is expected to power roughly 500,000 New Jersey homes and generate $1.17 billion in economic benefits, in addition to … %PDF-1.5 %���� Evaluation criteria included offshore wind renewable energy certificates (OREC) purchase price, economic impact, ratepayer impact, environmental impact, the strength of guarantees for economic impact, and the likelihood of successful commercial operation. Gov. We empower members with the education, tools, and connections necessary to participate in this booming industry. )�DFFVGGF�SY�����0��rC����6 ���<4$g([ is�d�����QA� �� The solicitations also contemplate a combined $400 million in public and private funding to upgrade the state’s port infrastructure in order to accommodate the development of the new offshore wind facilities. After almost eight years of stalled implementation and development under the previous administration, newly sworn in Governor Murphy signed Executive Order #8 (EO8) on January 31st, 2018. Offshore Wind Renewable Energy Credit (OREC) Price Guarantee Table 1 shows the agreed annual price ratepayers will pay for ORECs. Copyright © 2020, Covington & Burling LLP. All Rights Reserved. 0 Maryland’s Public Service Commission today awarded offshore wind renewable energy credits (ORECs) to the companies US Wind and Skipjack Offshore Energy, LLC to build wind projects totaling 368 megawatts (MW) of capacity miles off the state’s coast. The Ocean Wind project offered a first year OREC price of $98.10 per MWh. However, by using a competitive Developers’ proposals must include a description of the proposed long-term use of the port facilities, including how it will compete with other facilities both regionally and globally. �P�u�A�{. An OREC is produced for each megawatt-hour (MWh) of power generated. OWEDA directed the BPU to establish an offshore wind renewable energy certificate (OREC) program requiring a percentage of electric load be supplied by offshore wind (OSW) to support at least 1,100 Megawatts (MW) of generation from qualified offshore wind facilities. Gov. press-releases Offshore Wind Sector Calls For Action Now To Secure Green Hydrogen Economic Boom Published 7 September 2020. endstream endobj startxref The New York State Energy Research and Development Authority (NYSERDA) has selected Sunrise Wind to negotiate a 25-year offshore wind renewable energy certificate (OREC) for an offshore wind farm with a capacity of 880MW. Maryland Offshore Wind Energy Act of 2013 Created a “carve-out” for offshore wind within Maryland’s Renewable Portfolio Standard (RPS) that is equal to 2.5 percent of all electricity sales within Maryland. The new platform, to be launched by ORE Catapult early in 2021, will track failures, service downtime, as well as the effectiveness of the repair and monitoring procedures, and use of technology in cable failures. Combined, the REC-RFP and the NYPA solicitation seek to procure sufficient renewable energy capacity to power nearly 500,000 homes. 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