The New York Power Authority (NYPA) Board of Trustees yesterday (March 25) approved the acquisition of a 15.7-acre parcel of land in Astoria, Queens, for $206 million. This strategic purchase is intended to bolster and accelerate New York State's clean energy transition by providing additional land for energy infrastructure to support future integration of clean energy resources in New York City.
"Acquiring this land adjacent to our existing Astoria energy complex is yet another step forward to support New York's clean energy future," said NYPA Chairman John R. Koelmel. "This strategic investment enables the Power Authority to explore options for reliable, sustainable energy infrastructure that aligns with the state's ambitious decarbonization goals while also ensuring resiliency of the state power grid."
The newly acquired property is adjacent to NYPA's existing power assets in the Astoria Complex. The property is situated in an electrical load pocket and is zoned for utility infrastructure use, making it ideally suited for potential future energy system enhancements.
"Our team is consistently assessing real estate and development opportunities that will enable us to accelerate energy infrastructure investments and strengthen the reliability and resiliency of our electric grid," said NYPA President and CEO Justin E. Driscoll. "The purchase of this property opens another door for ensuring additional sustainable, affordable energy resources for all New Yorkers."
The property, which was formerly owned by NRG Energy, was sold to Equinor/BP in 2023 after NRG decided to close its in-city fossil generation units. Equinor and BP subsequently separated resulting in BP's ownership of the property. In 2024, BP put the property up for sale and NYPA, owning the adjacent property, was the primary interested bidder. Closing on the property is expected in June 2025.
"Acquiring this land in Astoria is a significant achievement and a major step toward New York's ambitious but achievable environmental goals," said Assemblymember Jessica González-Rojas. "Transforming a former fossil fuel site into a space for sustainable energy is especially redemptive for the Queens communities, which have long faced some of the highest rates of pollution-related illnesses. I'm proud to stand with a generation of leaders committed to building a greener, healthier New York.
About NYPA
NYPA is the largest state public power organization in the nation, operating 17 generating facilities and more than 1,550 circuit-miles of transmission lines. More than 80 percent of the electricity NYPA produces is clean renewable hydropower. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. For more information visit www.nypa.gov and follow us on Twitter @NYPAenergy, Facebook, Instagram, Tumblr and LinkedIn.
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