Greenbacker Capital Management bought three to-be-constructed neighborhood photo voltaic initiatives in New York from ReneSola Power Holdings. When accomplished, the portfolio will assist contribute to a extra equitable clear vitality transition by increasing New Yorkers’ entry to cheaper solar energy.
Building on the initiatives is slated to start in early 2023, with business operation anticipated by the tip of that yr. With a mixed clear energy–technology capability of 8.7 MWdc, the portfolio will provide New Yorkers with sufficient cheaper renewable vitality to energy, on common, 1653 properties a yr.
Two of the initiatives are set to take part within the Photo voltaic For All program, a utility help program that helps income-eligible New Yorkers entry clear vitality whereas saving on their energy payments. Every of the three initiatives is a part of New York’s Worth of Distributed Power Assets (VDER) program, a web crediting system during which shoppers can elect to obtain a financial credit score towards their vitality prices in an quantity equal to the VDER generated by a neighborhood photo voltaic challenge.
“Equitable entry to solar energy is vital to a sustainable vitality transition, and we’re delighted that Greenbacker’s third neighborhood photo voltaic collaboration with ReneSola will assist present that entry—significantly in our personal neck of the woods,” stated Mehul Mehta, CIO of Greenbacker, which is predicated in New York. “We stay up for persevering with our profitable observe document and bringing extra new solar energy to the grid collectively.”
The transaction is the most recent in a historical past of profitable clear vitality partnerships between Greenbacker and its associates and ReneSola, a longtime renewables developer with a wholesome pipeline of neighborhood and utility-scale photo voltaic initiatives, in addition to vitality storage.
“We’re happy to as soon as once more companion with Greenbacker on this portfolio of neighborhood photo voltaic initiatives in New York,” stated John Ewen, CEO of ReneSola North America. “ReneSola shares Greenbacker’s dedication to equitable entry to solar energy and continues to pursue alternatives to carry photo voltaic electrical energy to a bigger demographic”.
Since 2017, Greenbacker Renewable Power Firm—a clear vitality infrastructure enterprise affiliated with GCM—has bought a North Carolina photo voltaic farm, three photo voltaic vitality initiatives in Utah, and 4 Maine neighborhood photo voltaic property from ReneSola.
Have you ever checked out our YouTube web page?
We now have a ton video interviews and extra content material on our YouTube web page. Not too long ago we debuted Power Forward! — a collaboration with BayWa r.e. to debate greater stage business matters in addition to greatest practices / traits for operating a photo voltaic enterprise immediately.
Our longer operating aspect challenge is The Pitch — during which we have now awkward discussions with photo voltaic producers and suppliers about their new expertise and concepts in order that you do not have to. We talk about every thing from residential rail-less deck attaching and home solar financing to large-scale energy storage value stacking and utility-driven new dwelling solar + storage microgrids.