Under a regulatory change concerning clean energy in New York State, Hydro-Quebec has said it wants to seize the opportunity and plans to submit a bid soon to supply the American metropolis with electricity.
The US State Department of Utilities on Friday amended its Clean Energy Standard and now considers all forms of hydroelectric power, including those in Quebec, to be clean and renewable.
This decision by the fourth most populous American state aims to accelerate its decarbonization. New York has very ambitious targets in this regard, i.e. an energy supply from renewable energies of 70% by 2030 and 100% by 2040.
According to recent changes to the Standard, hydroelectricity produced by existing facilities and delivered directly to New York City will be eligible for renewable energy credits, a form of beneficial incentive.
For Hydro-Quebec, this decision opens the door to the creation of a new interconnection between the Quebec hydroelectric system and the New York energy grid.
“We are very encouraged by this decision,” said Sophie Brochu, President and CEO of Hydro-Quebec, on Friday. We are already contributing to the decarbonisation of the state through our clean energy exports. With a new interconnection, however, we will be able to play an increased role in decarbonizing New York City, first by delivering a significant volume of clean energy to replace fossil fuels, and then providing a balancing source for wind and solar installations that will emerge in the State. ”
Hydro-Quebec, which has long sought to carve out a place of choice in the energy market of the northeast of the continent, intends to participate in a call for tenders that will be launched over the next two months by New York State. .