For Release: Immediately Tuesday, December 16, 2003
Contact: Peter Sigurdson (NYSERDA) 716-842-1522 ext. 3006.
Genesee County Farm Receives NYSERDA Grant
For Custom Designed Refrigerated Storage Facility
Elba, NY -- CY Farms LLC has received financial assistance and low-interest
financing through the New York State Energy Research and Development
Authority (NYSERDA) to renovate an existing building for re-use as
a refrigerated cabbage storage facility.
"NYSERDA is delighted to partner with CY Farms to lower its
energy costs and remain competitive," said NYSERDA Acting President
Peter R. Smith. "Argi-business is New York's second largest industry
and Governor Pataki has made it a priority to assist farming and agri-business
with a wide spectrum of energy-efficiency programs and low-interest
financing."
"The New York Energy $martSM really made the
difference in our decision to go ahead with this project at this time.
Energy costs are a large component of operating expenses for a vegetable
farm. We are grateful for the opportunity to participate in this program
that helped to modernize our facility," said Craig Yunker, President,
CY Farms.
CY Farms applied to the New York Energy $martSM
New Construction Program and Loan Fund for the conversion of an existing
structure into a refrigerated storage building for its produce. The
14,080 sq. ft. facility was renovated to control temperature and humidity
for the cooling and storage of cabbage from July through May.
Incentives totaling $40,389 were provided for the installation of
10 pulse-start metal halide lamps, the construction of a high-efficiency
cooler, hot-gas defrosts system and an economizer system. It is anticipated
that CY Farms will save approximately 269,612 kWh (kilowatt hours)
annually, resulting in a total energy savings of $21,569 per year.
CY Farms also utilized the New York Energy $martSM
Loan Fund to borrow $182,533 from the Bank of Castile to finance the
equipment purchase and renovation work. The Loan Fund reduced the
interest paid on the loan by 4.5 percent. By taking advantage of the
Loan Fund, CY Farms reduced the interest rate it is paying on the
loan from 4.75 percent to .25 percent over five years, saving more
than $19,309 in interest charges.
Funding for the New Construction Program and Loan Fund is provided
through NYSERDA's New York Energy $martSM program,
which lowers electricity costs by encouraging energy efficiency as
the State's electric utilities move to competition. The programs are
available to all electric distribution customers (residential, commercial,
institutional and industrial) of Central Hudson, Con Edison, NYSEG,
Niagara Mohawk, Orange and Rockland, and Rochester Gas and Electric.
All New York Energy $martSM programs are funded
by a System Benefits Charge (SBC) paid by electric distribution customers
of participating utilities. NYSERDA, a public benefit corporation
established by law in 1975, administers SBC funds and programs under
an agreement with the Public Service Commission.
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