Air Products benefits from ReCharge NY

August 05, 2022
Governor Kathy Hochul recently announced that the New York Power Authority Board of Trustees has approved economic development awards to 23 companies that will support more than 3,700 jobs—more than 1,000 newly created—and spur significant capital investments. Low-cost power through the statewide ReCharge NY program was allocated to 19 applicants, while the remaining four are firms that will benefit from regional economic development incentives in the North Country and Western New York.

One of the industries that will be benefiting is Air Products (which has a plant in Glenmont).
The NYPA board approved 94 MW of low-cost St. Lawrence hydropower to Air Products— an American-based global industrial gases company in operation for more than 80 years that serves a wide range of industries including healthcare, technology and clean energy—for its significant project investment and creation of 90 jobs in Massena. The project supports New York State's goal of becoming a Regional Clean Energy Hydrogen Hub, as announced by Governor Kathy Hochul in March. New York's hydrogen hub ambitions directly support the goals of the state's Climate Leadership and Community Protection Act (Climate Act).

New York Power Authority Vice Chairman and Massena Resident Eugene L. Nicandri said, "Allocations from the St. Lawrence Power Project attract large-scale community investment and deliver good-paying jobs to the North Country. In supporting Air Products' expansion, NYPA is furthering New York's aggressive climate goals and helping to advance the state's vision of becoming a regional hydrogen hub."

Preservation Power is comprised of 490 megawatts of competitively priced hydropower generated at the St. Lawrence Franklin D. Roosevelt Power Project that may be allocated to eligible businesses located in the Franklin, Jefferson and St. Lawrence counties of New York State.

In addition, the NYPA board approved 16 MW of High Load Factor power that NYPA will procure for Air Products on the energy market.

Air Products' application has been considered under the Power Authority's green jobs evaluation criteria, which was approved by the trustees in December 2020, to allow NYPA to consider green job impacts in New York State when evaluating economic development power applications.

"Economic development awards from the New York Power Authority are critical to the vitality of New York's growing clean energy economy," Governor Hochul said. "With more than 1,000 new jobs for New York's skilled workforce and more than $8 billion in private capital investments, NYPA's Recharge NY awards will help solidify New York's status as a premier destination for the nation's most promising industries."

ReCharge NY Awards
The approved allocations of more than 33 megawatts (MW) of low-cost power under the ReCharge NY program will be directed to 19 companies in the Capital District, Southern Tier, Western New York, Central New York, Mid-Hudson, New York City, and on Long Island. The awards directly support nearly 3,500 jobs—787 newly created—and more than $7.5 billion in capital investments.

A full list of today's ReCharge NY power allocations and economic development awards is available here.

ReCharge NY has strengthened New York State's economy by encouraging companies to retain and create jobs, while sparking capital investment throughout the state. ReCharge NY offers power contracts up to seven-years. Half of the power—455 megawatts (MW)—is from NYPA's Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants. The remaining 455 MW is lower-cost power bought by NYPA on the wholesale market.