The New York Energy Authority (NYPA) will assist develop the 5-MW Hannacroix Photo voltaic challenge in Greene County.
The Energy Authority help for the challenge will assist guarantee it’s developed forward of deadlines related to the expiration of federal tax credit for photo voltaic and wind initiatives. When operational, Hannacroix Photo voltaic will contribute to the Energy Authority’s Renewable Energy Access and Community Help (REACH) program, which supplies invoice credit to low-income New Yorkers.
“Since NYPA was licensed lower than three years in the past to help large-scale renewable vitality improvement, it has labored diligently to face up a program able to accelerating clear vitality initiatives throughout New York State,”stated New York Energy Authority President and CEO Justin E. Driscoll. “Amid headwinds affecting the business, NYPA established new enterprise buildings, assembled a crew of seasoned professionals, and refined a portfolio of challenge alternatives. In 2026, these efforts will bear fruit. This settlement displays progress within the Energy Authority’s efforts to strengthen New York’s grid with emissions-free technology assets.”
In September 2025, Governor Kathy Hochul directed state entities to fast-track shovel-ready renewables initiatives to reap the benefits of expiring federal tax credit. To that finish, NYPA is exploring challenge partnership and acquisition alternatives throughout New York State and is leveraging its assets to speed up renewables challenge improvement. NYPA has entered into exclusivity agreements for initiatives totaling greater than 350 MW and can launch the method to develop a brand new biennial renewables strategic plan later this yr.
Underneath the phrases of the deal introduced at present, NYPA will present preliminary financing to advance Hannacroix Photo voltaic by means of its remaining pre-construction improvement actions. Pending ultimate due diligence and customary closing circumstances, the Energy Authority will finance the challenge’s development later this yr, totally buying it in 2027. The settlement was negotiated between Teichos Energy, the challenge’s developer, and the New York Renewable Power Improvement Holdings Company (NYRED), a wholly-owned NYPA subsidiary created to facilitate the Energy Authority’s renewable efforts.
Teichos Power CEO Stephen Voorhees stated, “NYPA has lengthy been acknowledged as an innovator within the electrical energy business and we welcome the chance to advance their objectives of creating New York’s electrical energy combine cleaner whereas stabilizing energy prices.”
Hannacroix Photo voltaic is anticipated to interrupt floor later this yr and can start working in late 2027. The challenge is included within the NYPA Renewables Updated Strategic Plan, which particulars the Energy Authority’s efforts to develop, personal, and function renewable technology and vitality storage initiatives.
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