By: Rick Moriarty |
The New York Power Authority Board of Trustees on Monday approved low-cost power allocations to 26 businesses and three not-for-profit organizations under the state’s ReCharge NY program.
A total of 11.8 megawatts of low-cost power will be distributed in exchange for $270 million in capital investments, the Power Authority said. The allocations will support nearly 3,100 jobs, including 300 new jobs, it said.
Four companies and one not-for-profit organization in Central New York received power allocations:
• G.A. Braun Inc. in Cicero, a maker of industrial laundry equipment, received an allocation of 326 kilowatts of power in exchange for a $10.9 million investment that is to retain 155 existing jobs and create 20 new ones.
• General Super Plating in East Syracuse received an allocation of 256 kilwatts of power in exchange for a $500,000 investment that is to retain 90 jobs.
• HP Hood LLC in Oneida received an allocation of 280 kilowatts in exchange for a $36 million investment that is to create 25 jobs.
• Tessy Plastics Corp. received an allocation of 386 kilowatts in exchange for an $8 million investment in Skaneateles Falls that is to create 100 jobs.
• NYSERNET.org, a private, not-for-profit corporation that promotes science and education in New York, received an allocation of 56 kilowatts of power in exchange for a $1.2 million investment in Syracuse that is to retain 13 jobs.
Half of the power under the ReCharge NY program &mdash 455 megawatts — is from the Power Authority’s Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants. The remaining 455 megawatts is economical power purchased by the Power Authority from wholesale market sources.
The authority said it bases the allocations on an organization’s job and investment commitments, as well as an evaluation of the significance of the cost of electricity to its overall cost of doing business, the applicant’s risk of closing or reducing operations, the significance of the applicant’s facility to the local economy, and its commitment to energy efficiency.
