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$400 Million in Capital Investment Proposed to GCEDC Board

Posted by admin at 9:00 AM on Jun 1, 2021

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BATAVIA, NY – The Genesee County Economic Development Center (GCEDC) Board of Directors will consider approving final incentives for a $345 million solar project in the town of Byron, and construction of a campus-wide substation at the Science Technology and Advanced Manufacturing Park (STAMP).  Both matters will be discussed at the agency’s June 3, 2021 board meeting. 

NextEra Energy Inc. is planning a $345.55 million Excelsior Energy Center utility scale solar farm project to be located on multiple agricultural properties in Town of Byron. The project is a 280 MW (AC) solar generation system, and a 20 MW 4-hour energy storage system, that will be interconnected with the electric grid.

The project will provide enhanced property tax payments via a 20-year PILOT and host benefit agreements. The project will contribute $6,500/MWAC in total PILOT/host benefit payments annually + a 2% annual escalator over the 20-year term. Resulting property tax-type benefits of the project in the Town of Byron, Byron-Bergen Central Schools, and Genesee County are estimated at over $45.2 million.

NextEra Energy is seeking approximately $32.7 million in property and sales tax incentives. A public hearing on the proposed agreement was held April 19.

Plug Power Inc. is planning to invest $55 million toward a campus-wide substation at STAMP. The substation will enable 100% renewable, reliable electricity at less than $0.035/kwh to future tenants in partnership with the New York Power Authority and National Grid.

The proposed substation investment is in addition to the $232 million Plug Power is investing to build a green hydrogen manufacturing facility at STAMP. The facility is estimated to create 68 full-time jobs.

Plug Power is seeking approximately $2.8 million in sales tax incentives related to the substation construction. A public hearing on the proposed agreements will be held at 10 a.m. on June 3.

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