Rep. Slaughter Pledges to Fight at Federal Level for Final Agreement to Build Huntley Power Station
Rep. Slaughter Pledges to Fight at Federal Level for Final Agreement to Build Huntley Power Station
Rep. Louise M. Slaughter (D-Fairport), Ranking Member of the House Rules Committee, today issued a statement following news that the New York Power Authority (NYPA) had granted a conditional award to NRG Energy, Inc. to build a clean coal power plant facility in Tonawanda, New York.
Between 100 to 120 permanent jobs and 1,500 construction jobs are expected as a result of this award.
"I am pleased to see that the New York Power Authority has conditionally awarded the new power plant facility to NRG Energy in Tonawanda," said Rep. Slaughter. "This project is critical to sustained economic growth in Western New York. Hard work still remains as NRG Energy and NYPA act together to make their Strategic Alliance successful. I will do everything I can at the federal level to help finalize this agreement."
Earlier this year, Rep. Slaughter authored a letter in support of NRG's application to the US Department of Energy for a tax credit for the proposed Huntley Power Station. The letter made clear the importance of the tax credit, which would offset the significant $1.5 billion investment needed for the completion of the Huntley Station.
Although NRG Energy has won conditional backing from the NYPA, the two parties must enter into a Strategic Alliance to work out details concerning the current plan. Before the Huntley plant can be constructed, the parties must come to an agreement through the Strategic Alliance to reduce costs so electricity produced will be competitively priced.
The Strategic Alliance between NYPA and NRG Energy, Inc. has 18 months to either lower the $1.5 billion price tag of the plant or find new sources of funding. This could include obtaining additional tax credits or tax-exempt financing at the state and federal levels. Grants from private organizations are also a possible source of additional funding.
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