Leading alternative energy technology provider Plug Power will invest $290 million in the construction of a state-of-the-art green hydrogen fuel production facility and electric substation at the Western New York Science, Technology and Advanced Manufacturing Park located in Genesee County, New York.
Plug Power has committed to creating 68 jobs at the new production facility, which will produce 45 tons of green hydrogen daily. The project is the first build at the STAMP site and will require that the company fund the construction of a 450-megawatt electric substation to support its expansion as well as future growth opportunities at the business park. Construction on the new facility is expected to begin this summer.
"New York State is committed to establishing itself as the leader in the national effort toward a more renewable future focused on green energy excellence, and we're showing that protecting the environment and encouraging economic growth aren't mutually exclusive," Governor Andrew Cuomo said. "We are incredibly proud to partner with Plug Power once again and applaud the company's continued investment in the Finger Lakes region and to its commitment to creating top-quality green jobs as we work to foster new investment and job growth during a difficult economic time for many New Yorkers."
The firm's commitment to develop its new green hydrogen fuel production facility in New York is the result of a comprehensive state and local incentive package from the New York Power Authority, Empire State Development and Genesee County. Construction on the new facility is expected to begin this summer.
Empire State Development will provide up to $2 million in Excelsior Tax Credits in exchange for job creation commitments. Genesee County will provide additional local tax incentives, pending various approvals by the Genesee County Economic Development Center.
"Not only does today's announcement mean more advanced manufacturing jobs in Genesee County, but we are also investing in a cleaner, greener future for New York State," Lieutenant Governor Kathy Hochul said. "Through the support of New York State, Plug Power, a leading alternative energy technology provider, will develop a new green hydrogen fuel production facility. We are proud to partner with companies like Plug Power that are building on our efforts to keep our state ahead of the curve and create a green economy."
NYPA's incentives, which are subject to approval by the New York Power Authority Board of Trustees next month, will mark the first NYPA customer approved for economic development incentives under the Power Authority's new green jobs criteria. The Governor is recommending that the NYPA board approve incentives which include 10 MW allocation of low-cost hydropower from the Niagara Power Project; $1.5 million from the Western New York Power Proceeds program; and 143 MW of High-Load Factor power that NYPA will procure for Plug Power on the energy market.