Rise Light & Power, a subsidiary of private equity investor LS Power, has unveiled its plan to redevelop Ravenswood Generating Station in New York City into a new renewable energy hub.
Ravenswood is a 2,480MW natural gas power plant located on a 27-acre waterfront industrial site in Long Island City, Queens, New York.
Under its long-term redevelopment plan, dubbed ‘Renewable Ravenswood’, the company aims to transform Ravenswood into a central hub for clean energy.
The redevelopment plan would integrate the clean energy from offshore wind and solar facilities directly into New York City’s electric grid.
The Renewable Ravenswood plan is structured with five programmes, including integration of offshore wind, upstate renewables, clean thermal energy, energy storage, and just transition.
Rise Light & Power chief executive officer Clint Plummer said: “New York City has for too long relied almost exclusively on fossil fuels to power the city.
“Our future demands innovative and reliable clean energy solutions, and we will deliver just that with our bold move to retire Ravenswood’s 1960s-era fossil fuel units and transition to a Renewable Ravenswood in its place.
“Rise Light & Power’s vision for a Renewable Ravenswood will transform New York’s energy system and help the state achieve its ambitious climate targets.”
Rise said that its redevelopment plan will help New York state to advance the retirement of fossil fuel facilities by 2030, and replace the fossil fuels with locally sourced clean energy.
It has developed the Renewable Ravenswood plan based on engagement with local labour leaders, government officials, and environmental justice and community advocates.
The plan would offer benefits including support for New York City’s environmental justice project, low costs due to existing infrastructure, and a reduction in fossil fuel dependence
Once approved, Ravenswood is anticipated to address the needs of power for more than two million homes in New York, in addition to clean heating and cooling for up to 15,000 local houses.
The company intends to submit an initial formal plan and detailed application with state energy regulators and authorities later this year.
LS Power CEO Paul Segal said: “New York has established nation-leading goals to tackle the climate crisis head-on, with rapid growth in renewables facilitating the energy transition.
“A Renewable Ravenswood provides a coherent path for realizing the city’s and state’s goals for rapid deployment of low-carbon energy resources, while ensuring continued energy security, affordability and reliability as our economy transitions toward net-zero greenhouse gas emissions.”
