Governor Andrew M. Cuomo recently announced that the New York Power Authority (NYPA) Board of Trustees has approved another round of low-cost power allocations under his statewide ReCharge NY (RNY) program that will support nearly 3,600 jobs.

The 7.8 megawatts (MW) of low-cost power will be distributed among 22 business operations and one not-for-profit organization and are expected to leverage more than $75 million in capital investments.

“ReCharge NY continues to support hundreds of thousands of jobs throughout the state, and ensure that businesses and not-for-profit organizations are able to stay and grow in New York,” Governor Cuomo said. “This new round of power allocations will leverage the state’s clean, economical power to support jobs and create real results for New Yorkers.”

The bulk of the latest allocations were made on Long Island. Enterprises in the Finger Lakes, the Capital Region, Central New York, and New York City also received RNY power.

The power allocations under the RNY program stem from legislation signed by the Governor in 2011. The program, administered by NYPA, is designed to spur economic development throughout the state by providing low-cost power to businesses and other entities that agree to create or retain jobs.

John R. Koelmel, NYPA chairman, said, “ReCharge NY was created by the Governor in 2011—four years and 11 rounds of power allocations later it still hasn’t missed a step. These allocations not only ensure we keep the jobs the state already has, but that we also create new jobs and opportunities for people all over New York.”

Including today’s allocations, the Governor’s program has provided more than 768 MW to more than 660 business operations and 72 not-for-profit organizations over the last two-and-a-half years. (One megawatt is enough power to meet the needs of 800 to 1,000 typical homes.)

In addition to jobs and capital investment commitments, other evaluation criteria for ReCharge NY applications include the significance of the cost of electricity to the overall cost of doing business, the applicant’s risk of closure or curtailing operations, how important the facility is to the local economy and its commitment to energy efficiency.

RNY offers up to seven-year power contracts. Half of the power under the program—455 MW—is from NYPA’s Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants, which provide some of the lowest-cost electricity in the state. The remaining 455 MW is economical power secured by NYPA from the wholesale market.

Gil C. Quiniones, president and chief executive officer, NYPA, said, “ReCharge NY is a core initiative in the Power Authority’s economic development efforts. This round of allocations will provide businesses with the support they need to keep growing and hiring new employees.”

Senate Energy Committee Chair Joseph A. Griffo said, “When the soaring cost of electric energy can make or break whether a company decides to expand or invest, this program gives businesses the support they need to thrive. This continued relief from the Governor and NYPA can only further fuel the momentum necessary for a brighter economic outlook in the State.”

Assembly Energy Committee Chair Amy Paulin said, “ReCharge NY program encourages investments that will create new jobs. Because the program requires that participants demonstrate a commitment to maximizing energy efficiency, and because 50 percent of the power supplied comes from clean hydropower, the program is good for the environment as well as for economic development.”

A list of the approved RNY allocations is available here.