To provide for extensions and modifications of certain hydro and renewable energy programs.

Authorizes the Federal Energy Regulatory Commission (FERC), upon the request of certain licensees, to extend the time required for commencement of construction of specified hydropower projects for a maximum of two years. Terminates such authorization three years after enactment of this Act.

Authorizes FERC to reinstate, effective May 23, 1993, a certain previously issued hydroelectric license. Terminates such authority three years after enactment of this Act.

Directs FERC to exempt a specified portion of the El Vado Hydroelectric Project in New Mexico from certain Federal Power Act licensing requirements.

Amends the Energy Policy Act of 1992 to: (1) change from discretionary to mandatory the authority of FERC to exempt certain hydropower projects in Alaska from certain Federal Power Act licensing requirements; and (2) report to the Congress its reasons for any failure to grant such exemptions.

Directs FERC to initiate a proceeding for the purpose of making recommendations to the Congress for legislation to transfer to the State of Hawaii all or part of its licensing authority for new hydroelectric projects in Hawaii.

Amends the Federal Power Act to extend from 1994 to 1996 the deadline for certain small solar, wind, waste, or geothermal power production facilities to submit the requisite applications for certification as qualifying facilities.