CHET was established as part of New York State’s approval of the Champlain Hudson Power Express transmission project, (CHPE). Using power cables, CHPE will carry hydroelectric power generated from dams in Quebec to a converter station in Astoria, Queens. Significant portions of these cables will be installed in Lake Champlain and in the Hudson, Harlem and East Rivers. This is a critical part of New York State’s effort to decarbonize its energy supply and meet its targets for reducing future greenhouse gas emissions.
The project developer, Transmission Developers, Inc., will fund the $117.15 million Trust in annual payments starting in 2023 and continuing for 35 years. The Hudson River Foundation serves as Trust Administrator and works with the Environmental Trust Governance Committee (ETGC) which includes representatives of New York State agencies, New York City, and key environmental organizations including Scenic Hudson, Riverkeeper, and Trout Unlimited. The Trust will develop and implement research and projects designed to protect, restore, and improve the aquatic habitats and fisheries resources in these water bodies.
As part of our role, HRF will help the ETGC prioritize projects, identify how they will be implemented, and monitor their progress. Throughout the process, we will engage scientists, New York State and New York City agencies, and many other stakeholders, with the goal of using these funds to meet the Trust’s mission of protecting and improving these waterways.