Brascan Power New York has announced that three of its hydroelectric plants have been selected to provide renewable energy in the first phase of New York State's Renewable Portfolio Standard (RPS).
The New York State Energy Research and Development Authority (NYSERDA) selected the three Brascan Power hydroelectric plants during the first phase of the RPS, which will go into effect on January 1, 2006. The RPS is designed to increase the amount of electricity sold to consumers in New York State that is generated from renewable resources to at least 25% by 2013.
NYSERDA received 22 proposals from its initial RPS solicitation, and selected five projects that will provide 697,832MWh of eligible renewable power in the first year. The five projects will receive funding of US$15.7M in the first year.