USA – NEW YORK Trends and Developments Contributed by: Marius Griskonis, Lauren Bachtel, Michael Rodgers and Diana Jeschke, Linklaters
before 31 December 2027, with Scope 1 and Scope 2 disclosures starting in 2028 and Scope 3 disclo- sures starting in 2029. Separately, SB S3697-A would require covered entities with total annual revenues in excess of USD500 million that do business in New York to prepare biennial climate-related financial risk reports. Both bills are currently pending before State Senate committees. Recent investment opportunities In 2025, NYSERDA announced contracts for 26 land- based renewable energy projects with over 2.5 GW capacity planned to be operational by 2029 and spurring over USD6 billion in direct investment and over 1,900 jobs. NYSERDA further announced that USD15 million was available to support clean, resil- ient economic development projects under the State’s Regional Economic Development Council initiative. Also, as mentioned, the PSC adopted the Clean Energy Standard Biennial Review, which increased the annual procurement target for NYSERDA’s land-based renewable energy programme (Tier 1) to 5,600 GWh.
In addition, Hochul announced a solicitation to accel- erate renewable energy project development, and a plan for the USD1 billion Sustainable Future Pro- gram supporting climate action and jobs. Additionally, NYSERDA issued its 2025 annual Renewable Energy Standard (RES) solicitation for Tier 1 RECs. NYSERDA subsequently issued its 2026 RES solicitation (RES- RFP26-1) in April 2026, seeking to procure additional Tier 1-eligible RECs from facilities with a viable path to entering commercial operation in the near future. The State also implemented a five-year, USD3.75 bil- lion funding commitment to clean water infrastructure.
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