Town of Colonie enters 20-year PPA with Schuylerville hydroelectric facility
The Colonie Town in Albany County, New York 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.
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