Over 50% of Town Power Needs to be Met with NY Hydropower
Newtonville, NY — Colonie Town Supervisor Paula A. Mahan today announced that the Town has entered a renewable energy program that will substantially underwrite the Town’s energy costs through the purchase of locally-produced hydroelectric power.
Under an innovative mechanism known as remote net metering, Colonie has agreed to a 20-year power purchase agreement with Gravity Renewables, Inc. for power produced at a Schuylerville hydroelectric facility owned and operated by Brookfield Renewable.
Through the agreement, Colonie will receive credits for power generated at the Schuylerville facility. The net effect will be a reduction and stabilization of the Town’s power costs while offsetting over 50 percent of its electric load with climate-friendly renewable power.
The arrangement was facilitated by the Municipal Electric and Gas Alliance (MEGA), a New York not-for-profit aggregation program serving nearly 300 local governments and public agencies with their energy procurement needs. In 2014, MEGA selected Gravity Renewables through a competitive process to be the preferred provider of energy from small hydroelectric sites.
As the MEGA hydropower program expands to include five projects, it becomes increasingly clear that each transaction tells its own story. Located 37 miles from Colonie, Schuylerville hydroelectric is a 1.7 megawatt facility originally commissioned in 1919. It’s history and success are tied to its relationship with the community and regional economy. Nearing its 100th birthday in 2017, the facility’s long-term viability is significantly strengthened through this partnership.
“This renewable energy agreement is the right thing to do at every level, said Supervisor Mahan. “It will offset 50 percent of our carbon footprint and greatly reduce our energy bills. Plus, our purchase of local hydropower is great for the environment and our regional economy.”
Said Ted Rose, Gravity Renewables CEO, “Colonie’s commitment to this project demonstrates its commitment to encouraging reinvestment in the region’s aging hydroelectric infrastructure, ensuring that sustainable hydropower can continue to contribute to the local economy and environment for decades to come.”
About Gravity Renewables
Gravity Renewables is a leading national owner, operator and developer of small hydroelectric power plants. Small hydropower provides predictable, reliable, affordable clean energy that’s locally produced. By making a long-term commitment to these neighborhood facilities, Gravity restores and conserves important historical sites, employs local operators and promotes educational and recreational opportunities in the communities it serves. Gravity currently has more than 60 MW of hydroelectric projects operating and under development across the country. For more information, please visit www.gravityrenewables.com or call 303.440.3378. Follow Gravity Renewables on Twitter or Facebook.