Colonie Town Supervisor Paula A. Mahan announces that the town has entered a renewable energy program that will substantially underwrite its energy costs through the purchase of locally-produced hydroelectric power.
Under a remote net metering mechanism, Colonie has agreed to a 20-year power purchase agreement with Gravity Renewables Inc. for electricity produced at a 1.7-MW Schuylerville hydroelectric facility, owned and operated by Brookfield Renewable.
Colonie will receive credits for power generated at the Schuylerville facility, with the net effect being a reduction and stabilization of the town’s power costs while offsetting over 50% of its electric load with climate-friendly renewable power, according to a press release. Located 37 miles from Colonie, the Schuylerville hydroelectric plant was commissioned in 1919.
“This renewable energy agreement is the right thing to do at every level, said Mahan. “It will offset 50 percent of our carbon footprint and greatly reduce our energy bills. Plus, our purchase of local hydropower is great for the environment and our regional economy.”
The arrangement was facilitated by the Municipal Electric and Gas Alliance (MEGA), a New York not-for-profit aggregation program serving nearly 300 local governments and public agencies with their energy procurement needs. In 2014, MEGA selected Gravity Renewables through a competitive process to be the preferred provider of energy from small hydroelectric sites. The MEGA hydropower program now includes five projects.
Gravity Renewables is an owner, operator and developer of small hydroelectric power plants in the U.S. Gravity has more than 60 MW of hydroelectric projects operating and under development across the country.