Upstate New York is set to receive its ‘first’ community solar project by the end of 2021, as part of Governor Cuomo’s green initiative.
A 102MW solar portfolio has been recently acquired by global investment firms Energy Impact Partners (EIP) and NextEnergy Capital’s fund NextPower III – expected to be completed by the end of 2021, the solar portfolio will be built across 15 sites in upstate New York.
The solar assets will be developed and managed by EIP’s Infrastructure Group and New York-based solar development company US Light Energy.
The project is expected to generate more than 2,000 manufacturing jobs and around 1,300 jobs in installation, besides powering approximately 15,000 New York households with clean energy.
Hans Kobler, the Managing Partner of EIP, said: “In these challenging times, community solar continues to offer attractive risk-adjusted returns while generating jobs and laying the foundation for a better, cleaner future. This expansion is the logical evolution of our strategy, leveraging our expansive utility partner network, portfolio of innovative technology leaders and deep sector expertise.”
The project forms part of Governor Andrew Cuomo’s Green New Deal Programme that is committed to reaching 100% net zero greenhouse gas emissions by 2050.