NY Governor Hochul Announces Nation’s Largest-Ever State Investment in Renewable Energy is Moving Forward

Projects Expected to Create Approximately 8,300 Family-Sustaining Jobs and Bring $20 Billion in Economic Development Investments Statewide, Including Developer-Committed Investments to Support Disadvantaged Communities

Reduce greenhouse gas emissions by 9.4 million metric tons annually, the equivalent of taking more than 2 million cars off the road every year. Today’s announcement represents the first set of actions taken by the State as part of New York’s 10-point Action Plan,recently by Governor Hochul, offering insight into how the Governor’s Administration plans to overcome recent macroeconomic and inflationary challenges that have impacted the renewable energy sector. Today’s awards also mark the commencement of contract negotiations with the awarded parties, and the awards are conditional on successful contract execution.

Over $100 million in commitments to train New York’s workforce to build and service offshore wind projects. Delivering on Governor Hochul’s commitment to make New York State a hub for the U.S. offshore wind supply chain, this procurement includes continued support for offshore wind turbine manufacturing, which leverages over $2 in privately committed capital for every $1 of New York public funding.

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