540 MW Boralex Solar Farms & 77 MW of Storage To Add To New York Renewable Power

Quebec, Canada based Boralex Inc. has announced five solar farms totaling 540 MW of generation and 77 MW of storage have been selected by the New York State Energy Research and Development Authority (NYSERDA) as part of its 2021 request for utility-scale renewable energy certificates. Once constructed, the solar farms will generate more than 1 TWh of solar electricity annually.

The selected photovoltaic solar electricity generation projects will be located across upstate New York:

• Fort Covington Solar Farm is a 250 MW solar farm paired with a 77 MW storage project. The solar farm is in the Town of Fort Covington in Franklin County and is estimated to generate 473,040 MWh annually. Boralex solar farms is partnering with Savion, LLC  to develop the battery energy storage system, which has an anticipated 308 MWh energy storage capacity, and will be in the Town of Brookhaven’s hamlet of Yaphank in Suffolk County.
• Newport Solar Farm is a 130 MW solar farm in the Town of Deerfield in Oneida County and Town of Newport in Herkimer County, estimated to generate 244,842 MWh annually.
• Fort Edward Solar Farm is a 100 MW solar farm in the Towns of Argyle and Fort Edward in Washington County, estimated to generate 192,720 MWh annually.
• Foothills Solar Farm is a 40 MW solar farm in the Town of Mayfield in Fulton County, estimated to generate 75,336 MWh annually.
• Easton Solar Farm is a 20 MW solar farm located in the Town of Easton in Washington County, estimated to generate 38,369 MWh annually.

To further New York State’s goal of 70% renewable electricity by 2030, NYSERDA launched its fifth request for proposals April 2021 for the purchase of New York Tier-1 Eligible Renewable Energy Certificates (RECs). RECs represent renewable electricity entering the electricity grid. Each REC equals the environmental attributes of one megawatt hour of electricity generated from a renewable source, such as solar. This announcement begins a process for Boralex solar farms and NYSERDA to execute 20-year Renewable Energy Standard Agreements for the purchase of RECs associated with the energy production of the selected projects. The energy associated with the RECs must be consumed within New York State. The price of the RECs will be indexed to a reference energy and capacity price, which will hedge the projects’ merchant energy and capacity revenues, obviating a need for the projects to obtain a separate long term offtake agreement for the sale of energy and capacity.

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Before submitting these projects to NYSERDA, Boralex solar farms met with landowners and leaders in host communities to discuss the potential sites and opportunities. Consultations with stakeholders will continue throughout the development, construction, and operation of our sites. These projects are also continually optimized to ensure they meet the company’s return criteria.

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