New York may allow clean power projects to die
ALBANY — Nearly two dozen of New York’s clean energy projects may be scrapped because they are financially impractical, a possible outcome that would exacerbate the state’s struggling efforts to meet increasing power demands while also ensuring the electric grid becomes less dependent on fossil fuels. Watch More The stalled wind and solar projects would power roughly 2 million homes, but the developers want to renegotiate state contracts to reflect tariffs and rising labor costs not factored in when their deals were struck between 2023 and early 2025. Without more revenue, the projects won’t be economically viable and will need to be canceled, according to a trade organization representing them. The New York State Energy Research Development Authority has informed the developers it will only allow them to move forward under the terms of earlier agreements. The authority “expects its developers to honor their commitments,” spokeswoman Deanna...