FINWIRES · TerminalLIVE
FINWIRES

New York Authorities Approve 3 Wind, Solar Projects Totaling 343 MW

By

-- The New York State Office of Renewable Energy Siting and Electric Transmission, or ORES, has issued final siting permits to AES (AES) unit AES Clean Power, enabling it to proceed with three wind and solar power generation projects, totaling 343 megawatts, it said last week.

Altona Wind in the namesake town will produce up to 107.5 MW, Clinton Wind in Clinton, New York, will generate up to 110.5 MW, and Sugar Maple Solar spread across Croghan and Wilna, will generate up to 125 MW, a statement said.

With the issue of the three permits, ORES has now endorsed a total of 35 wind and solar projects with a combined capacity of 5.1 gigawatts, it said, all of which will feed into New York's grid.

The Altona and Clinton wind projects will involve repowering, replacing aging, existing turbines there with more efficient ones along with improvements to substations.

Fewer turbines will be required overall but the sites' output capacity will rise by 20 MW, the statement said.

Clinton will operate from 2028 and Altona from 2029. Residents near the sites will benefit from a share of utility bill credits over 10 years totaling $2.18 million.

Related Articles

Equities

Raymond James Adjusts Diamondback Energy Price Target to $242 From $240, Maintains Strong Buy Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $223.16, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$FANG
International

US IRS Reports Average Tax Refund Rise 11.3% from Year-Ago Through April 17

The size of the average tax refund rose by 11.3% to $3,275 this tax season as of April 17 compared with $2,942 as of April 18, 2025, the US Internal Revenue Service reported in weekly data.There were 90.4 million refunds issued so far this year, up from 86.0 million a year ago. There were total refunds of $296.07 billion so far this year compared with $253.12 billion a year ago.

Sectors

National Bank Says Crude Oil Price Shock Could Deliver Significant Fiscal Windfall For Canadian Governments

After surging nearly 50% since the onset of the United States-Iran conflict, this crude oil price shock is one of the largest on record since the inception of WTI futures trading in the mid-1980s, said National Bank of Canada.While the change is historically significant in percentage terms, the same can't necessarily be said about where the price stands outright, noted the bank.That's true for the US dollar-denominated price, at least. The price of WTI in Canadian dollar (CAD or loonie) terms is near a record high early in Q2, recently trading just below C$160/barrel -- a level reached only once before, briefly, during the 2022 Russian invasion of Ukraine, stated National Bank.Canadian producers -- and governments -- could, as a consequence, be poised to capture one of the most lucrative quarters on record in terms of royalty revenues, added the bank. How long this fiscal windfall will last is uncertain, but if sustained, its impact on provincial and federal finances will be "significant" -- particularly for oil-levered provinces such as Alberta.Though the net impact of this crude shock on the Canadian economy -- and its implications for monetary policy -- has yet to be fully revealed, National Bank urges governments to capitalize on this opportunity.Most notably, this can be done by directing any additional, unbudgeted revenues to the bottom line or toward productivity-enhancing investments in the national interest. This federal government has promised to "spend less to invest more" -- a sentiment that will once again be tested in Tuesday's Spring Economic Update, according to the bank.

$$CAD$$CXY