Wed May 26, 2021 8:30 AM
Niagara’s hydroelectric allocations approved by the board of directors generate $ 145 million in private capital investment
Gov. Andrew Cuomo announced Tuesday that the New York Power Authority’s board of directors has approved three low-cost hydroelectric allocations that will create 102 jobs in western New York and boost $ 145 million in private investment. Approved allotments of 3,580 kilowatts of hydroelectricity for the Power Authority’s Lewiston Niagara Power Project are awarded to Americold Real Estate in Chautauqua County, SGS Recovery in Niagara County, and Sumitomo Rubber USA in County of Chautauqua. Erie.
âProtecting our environment and supporting our economy are not mutually exclusive, and the Niagara Power Project provides clean, renewable energy that directly supports economic development throughout western New York State,â said Cuomo. âThese three power allocations will create more than 100 jobs and boost investment in the region while helping New York City’s transition to a clean energy economy. important part of our strategy to foster new investment and job creation while using renewable energy sources. “
Lieutenant Governor Kathy Hochul said, âAs we focus on our economic recovery, we are working to ensure businesses have the resources they need to grow and succeed in New York State. These hydroelectric allocations create well-paying jobs, stimulate private sector investment, and will further unleash the full potential of western New York State as an economic powerhouse for the post-pandemic future. “
Americold Real Estate LP – which is based in Georgia and owns and operates 238 temperature-controlled warehouses around the world for the storage of perishable goods – received 830 kilowatts of hydropower to establish a new cold storage facility in Dunkirk that will create 60 jobs. The new facility will provide storage for Wells Enterprises, an ice cream maker and current NYPA electrical customer. Construction of the more than $ 40 million facility is expected to begin later this year.
SGS Recovery LLC in Niagara Falls, a sustainable waste management and recycling company, has secured a hydroelectric allocation of 750 kW for its project to lease a new 30,000 square foot building in Niagara Falls. The site will convert recycled materials into industrial fuel, which is used as a substitute for fossil and petroleum-based fuels in the cement industry. The nearly $ 5 million project, slated to start later this year, will result in the addition of 12 new positions.
SGS has been approved for electricity allocation by NYPA board of directors under new green jobs criteria announcement by Cuomo in December. The new criteria allow NYPA economic development candidates to be assessed on their support for green jobs and manufacturing in New York City, helping to advance the growing clean energy economy statewide by under Cuomo and the Climate Leadership and Community Protection Act.
Sumitomo Rubber USA LLC in Tonawanda, a manufacturer of automotive tires for trucks, cars, buses and motorcycles, has been awarded 2,000 kW of hydraulic power for a major expansion planned to double its daily tire production. The $ 122 million expansion, which is expected to begin later this year, was announcement in March by Cuomo and will create 30 jobs. Sumitomo is a long-time NYPA electricity customer and already receives more than 13,500 kW of low-cost hydropower to support its more than 1,300 jobs at the Tonawanda facility. Empire State Development is also supporting the expansion with $ 3.3 million through the Excelsior Employment Tax Credit program in return for job creation commitments.
NYPA President John R. Koelmel said, âThe Niagara Power Project is a cornerstone of economic development throughout the state, and particularly in western New York State where it directly supports tens of thousands of jobs. At NYPA, we are proud to make these three hydroelectric allocations. to Americold Real Estate, SGS Recovery and Sumitomo Rubber USA so that these companies can grow significantly in the region. NYPA is happy to do its part to continue to reinvigorate our economy as we rebuild New York.
NYPA President and CEO Gil C. Quiniones said, âToday’s decision by the NYPA Board of Directors to award three companies with hydropower allocations will help create more than 100 jobs in western New York State. to intelligently and safely bounce back from the COVID-19 pandemic. “
Niagara Low Cost Hydroelectricity is available for businesses within a 30 mile radius of the Power Authority’s Niagara Electricity Project or for businesses in Chautauqua County. Niagara hydropower is linked to tens of thousands of existing jobs in the region. Learn more about business growth opportunities supported by the Power Authority on NYPA Economic development Web page.
New York State Senator Sean Ryan said, âThe low-cost hydroelectricity provided by the Niagara Power Project is a critical resource for businesses in western New York State. As one of the region’s leading employers, Sumitomo Rubber has already made a significant contribution to our local economy for decades. NYPA’s decision to allocate more low-cost electricity to Sumitomo will support the company’s expansion, creating more well-paying local jobs and, in turn, strengthening our region’s economy.
New York State Assembly Member Angelo Morinello said, âThese hydropower allocations will provide much needed economic stimulus to western New York to accelerate stability and growth in the region. This power project will create more than 100 jobs in western New York, as well as advance clean energy manufacturing throughout New York State. I look forward to continuing to invest in the energy expansion and economic growth of Western New York State. ”
Cuomo’s Climate Agenda is the country’s most aggressive climate and clean energy initiative, calling for an orderly and just transition to clean energy that creates jobs and continues to foster a green economy as New York recovers from the COVID-19 pandemic. Embedded in law by the Climate Leadership and Community Protection Act, New York is on track to meet its goal of a zero-emission electricity sector by 2040, of which 70% is produced from renewable energy. by 2030, and achieve economy-wide carbon neutrality.
NYPA is the nation’s largest public electricity organization, operating 16 generating facilities and more than 1,400 kilometers of transmission line circuits. For more information visit www.nypa.gov.