Champlain Hudson Power Express
The Champlain Hudson Power Express project will bring up to 1,000 megawatts (MW) of clean wind and hydropower to the New York metro area.
The project would help New York meet its ambitious clean energy goals. In addition, the energy will be derived from carbon-free generation sources.
The $2.2 billion project would be one of the largest investments in New York State history and create an average of more than 300 jobs during the 3½-year construction period. It will deliver clean power to meet growing demands, increase the security of the state's electric grid, reduce emissions and lower energy costs for consumers.
According to current estimates, the project will generate in excess of $20 million a year in tax revenue to upland areas where the line is buried along railroad tracks and public roads. Taxpayers in Washington, Saratoga, Albany, Schenectady, Greene, and Rockland counties, as well as the City of New York, will receive yearly tax benefits from the CHPE. In addition, a one-time payment will be made to the State of New York for easements once the project is completed.
The process of permitting the project began in January of 2010, and the first regulatory approval secured was the July 1, 2010 order of the Federal Energy Regulatory Commission authorizing the Company to enter into negotiated pre-subscription agreements with one or more "anchor" customers for up to 75% of the facility's throughput, with the remaining 25% of the line's capacity to be available to all bidders through an upcoming open season auction process. At the state level, the project received its Coastal Zone Management Consistency Certification Conditional Concurrence from the NYS Department of State less than a year later. The project is expected to be fully permitted, and all conditions met, before the end of 2014.
More information on the CHPE can be found at: www.chpexpress.com.