The New York Power Authority Board of Trustees’ decision Tuesday to allocate low-cost hydropower and funding to Plug Power’s expansion project at the Western New York Science, Technology and Advanced Manufacturing Park is another vital step in the Genesee County Economic Development Center’s efforts to promote the 1,250-acre mega site in the Town of Alabama.
That’s the way Steve Hyde, GCEDC president and chief executive officer, sees it after learning that the NYPA board approved a 10,000-kilowatt hydropower provision along with $1.5 million in funding from the Western New York Power Proceeds program.
Plug Power, based in Latham, will be investing $290 million on the construction of a green hydrogen fuel production plant and a 450-megawatt electric substation to serve the STAMP complex.
“Funding from the Western New York Power Proceeds program and the allocation of low cost hydropower from the Niagara Power Project are critical components to Plug Power’s $290 million investment at the STAMP site,” Hyde said.
“The collaboration among NYPA, National Grid and Plug Power to build a 345-115kv electrical substation, which will allow access to 100-percent renewable and reliable low-cost power, will provide our agency a significant advantage in our marketing and promotional efforts on behalf of STAMP against other sites nationally and globally.”
Hyde said he was “extremely grateful” for NYPA’s support of the project, which reportedly will create 68 jobs and produce 45 tons of green hydrogen daily.
Gov. Andrew Cuomo announced that the NYPA board approved economic development awards to 23 entities that will support 2,292 jobs across the state — with 870 jobs being newly created — and spur more than $580 million in private capital investments.
Eighteen operations are receiving awards through ReCharge NY energy allocations, while the remaining five are receiving Niagara hydropower allocations and funding awards to enterprises in Western New York.
Included among the awards is a 5,100-kW power allocation to Plug Power for its expansion project in Monroe County that will create nearly 380 jobs.
