
Daniel T. McKillop
Partner
201-896-7115 dmckillop@sh-law.comFirm Insights
Author: Daniel T. McKillop
Date: January 13, 2020
Partner
201-896-7115 dmckillop@sh-law.comStates along the East Coast are competing for offshore wind supply-chain investment and jobs, with New York and New Jersey both taking steps to come out on top.
In October, the New York State Energy Research and Development Authority (NYSERDA) finalized contracts for its first two offshore wind projects, which are part of the ambitious clean energy plan the state adopted this summer. The Climate Leadership and Community Protection Act (CLCPA) requires that 70 percent of the state’s electricity come from renewables by 2030, and requires 100 percent carbon-free electricity by 2040.
With the enactment of the CLPA, New York is again a leader in green energy policy. Below are several key aspects of the law:
In connection with signing the CLCPA, New York has entered into agreements to build two offshore wind farms for a combined total of 1700 megawatts of clean energy. The Sunrise Wind project will be located in an offshore area 30 miles East of Long Island. It will be developed by Orsted and Eversource, providing 880 megawatts feeding Long Island. The Empire Wind project will be located 14 miles Southeast of Manhattan and will be developed by Equinor, a Norwegian company. It will develop 816 megawatts and feed New York City.
New York also plans to invest $287 million to construct manufacturing, service and port facilities in several areas of New York, including in Port Jefferson, Brooklyn, Staten Island and the Capital region. The port upgrades will begin in 2020. Construction of the onshore facilities will begin in 2022. Offshore construction will begin in late 2022 and the projects will be completed by 2024.
Going forward, the green economies of both New York and New Jersey are poised for growth. Scarinci Hollenbeck’s Renewable Energy and Green Initiatives Practice Group can provide businesses with the broad range of legal services needed to succeed in this ever-evolving industry.
If you have any questions or if you would like to discuss the matter further, please contact me, Dan McKillop, or the Scarinci Hollenbeck attorney with whom you work, at 201-806-3364.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Breach of contract disputes are the most common type of business litigation. Therefore, nearly all New York and New Jersey businesses will likely have to deal with a contract dispute at least once. Understanding when to file a breach of contract lawsuit and how long you have to sue for breach of contract is essential […]
Author: Brittany P. Tarabour
Closing your business can be a difficult and challenging task. For corporations, the process includes formal approval of the dissolution, winding up operations, resolving tax liabilities, and filing all required paperwork. Whether you need to understand how to dissolve a corporation in New York or New Jersey, it’s imperative to take all of the proper […]
Author: Christopher D. Warren
Commercial leases can take a variety of forms, which is often confusing for both landlords and tenants. Understanding the different types, especially the gross lease structure, is important when selecting the lease that best suits your needs. One key distinction between lease types is how rent is calculated and paid. This article addresses the two […]
Author: Robert L. Baker, Jr.
Over the past year, brick-and-mortar stores have closed their doors at a record pace. Fluctuating consumer preferences, the rise of online shopping platforms, and ongoing economic uncertainty continue to put pressure on the retail industry. When a retailer seeks bankruptcy protection, a myriad of other businesses are often impacted. Whether you are a supplier, customer, […]
Author: Brian D. Spector
Since his inauguration two months ago, Donald Trump’s administration and the Congress it controls have indicated important upcoming policy changes. These changes will impact financial services policies and priorities. The changes will particularly affect cryptocurrency, as well as banking rules and regulations. Key Regulatory Changes in Cryptocurrency For example, in the burgeoning cryptocurrency business environment, […]
Author: Dan Brecher
The retail sector has experienced a wave of bankruptcy filings over the last year. Brick-and-mortar businesses in financial distress include big-name brands like Big Lots, Party City, The Container Store, and Vitamin Shoppe. When large retailers seek bankruptcy protection, they are not the only businesses impacted. Landlords can be particularly hard hit. While commercial landlords […]
Author: Brian D. Spector
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!