NACC WEBINAR SERIES: INTRODUCTION TO THE BUILD READY PROGRAM
Time & Location
About the Event
In 2020, New York enacted a law creating the Clean Energy Resources Development and Incentives (or “Build-Ready”) Program, the first such program in the US. The law tasks the New York State Energy Research and Development Authority (NYSERDA) with identifying sites that may be suitable for development as renewable energy projects, particularly at sites that commercial developers might otherwise avoid due to development challenges.
NYSERDA will advance those sites through a new State permitting regime and, once permits are obtained, will auction off each “Build-Ready” site to private developers who will construct, maintain, and operate the renewable energy project.
NYSERDA will pursue site control and pre-construction development activities prior to competitively auctioning the developed sites, bundled with contracts for renewable energy payments, to provide a de-risked package for private developers to construct and operate projects at these sites.
The “Build-Ready” Program represents an accelerator in support of New York’s goal to reach 70% Renewables by 2030. Whilst ~4.1 GW of land-based renewables are under contract and awaiting construction, an additional ~11.5GW of land-based renewables require contracting and construction to secure the ambitious 70% Renewables target. Even if some of the land-based renewables could be substituted by additional offshore wind projects, the challenge to contract and construct is significant and very much warrants bold steps such as the “Build-Ready” Program.