Press release:
The Genesee County Economic Development Center (GCEDC) Board of Directors will consider approving final incentives for a $345 million solar project in the Town of Byron, and construction of a campus-wide electrical substation at the Science Technology and Advanced Manufacturing Park (STAMP). Both matters will be discussed at the agency’s June 3 board meeting.
NextEra Energy Inc. is planning a $345.55 million Excelsior Energy Center utility scale solar farm project to be located on multiple agricultural properties in Town of Byron. The project is a 280 MW (AC) solar generation system, and a 20 MW 4-hour energy storage system, that will be interconnected with the electric grid.
The project will provide enhanced property tax payments via a 20-year PILOT (Payment In Lieu Of Taxes) and host benefit agreements. The project will contribute $6,500/MWAC in total PILOT/host benefit payments annually + a 2 percent annual escalator over the 20-year term.
Resulting property tax-type benefits of the project in the Town of Byron, Byron-Bergen Central schools, and Genesee County are estimated at over $45.2 million.
NextEra Energy is seeking approximately $32.7 million in property and sales tax incentives. A public hearing on the proposed agreement was held April 19.
Plug Power Inc. is planning to invest $55 million toward a campus-wide substation at STAMP. The substation will enable 100 percent renewable, reliable electricity at less than $0.035/kwh to future tenants in partnership with the New York Power Authority and National Grid.
The proposed substation investment is in addition to the $232 million Plug Power is investing to build a green hydrogen manufacturing facility at STAMP. The facility is estimated to create 68 full-time jobs.
Plug Power is seeking approximately $2.8 million in sales tax incentives related to the substation construction. A public hearing on the proposed agreements will be held at 10 a.m. on June 3.
The GCEDC Board meeting is at 4 p.m. and because of the ongoing coronavirus pandemic the meeting will be conducted via videoconference and can be viewed online at www.gcedc.com.
