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Authority hears Riverton construction update and Woods Landing battery project wins $15M in state incentives
Summary
The board was briefed on progress at the Riverton development, including QuickChek and Bass Pro work, and Zach, the executive director, said the Woods Landing battery storage project in Sayreville received $15 million in incentives from the New Jersey Board of Public Utilities.
Zach, the executive director, told the Business Development Authority the Riverton site remains on schedule and that the Woods Landing battery energy storage project in Sayreville recently received $15 million in incentives from the New Jersey Board of Public Utilities.
The executive director said interior work continues at Bass Pro and that QuickChek’s building and pad work are advancing; Panera Bread’s pad installation has begun, landscaping and pile work for Bass Pro’s signage are complete and base paving on Chevalier Avenue is underway. On QuickChek’s opening timeline he said construction is moving quickly but indicated the first business completion may shift from late April toward late May.
On Woods Landing, Zach said the BPU awarded $15 million in incentives to one of three projects that together total 355 megawatts of additional capacity and are expected to deliver more than $169 million in savings to ratepayers over the life of the program; he said Woods Landing accounts for roughly 200 megawatts of that total. "The New Jersey Board of Public Utilities has also awarded this project 15 million in incentives," he said. He described the state support as part of an effort to curb energy costs and increase grid capacity.
The board also heard a brief administrative update: staff are still processing one Riverfront restaurant RFP submission, which could not be reviewed immediately because an attachment was flagged by the bureau's email security; Zach said staff expect to review it once the document is unlocked. He also told the board a negotiated bond sale for the Riverton project is likely to go to market in May and that the authority will update the board once the sale is completed.
No public comments were offered on these items during the meeting. The board did not take formal votes specific to the Woods Landing incentives during this session; the BPU award was described as an external action reported to the authority.
