Major Investment in Solar Energy
Catalyze, a leading developer and Independent Power Producer (IPP) of distributed renewable energy assets, has partnered with GreenSpark Solar to construct 10 community solar projects in New York. These projects will total 60 MW and expand Catalyze’s existing New York solar portfolio, which includes the Amherst solar project and other sites acquired from BW Solar. This partnership is also backed by $100 million in financing from NY Green Bank to support community solar initiatives across the state.
Supporting Green Energy Policies
The community solar projects will receive funding from the New York State Energy Research and Development Authority (NYSERDA) through the NY-Sun Program. This collaboration aims to help New York achieve its goal of installing 10 GW of distributed solar energy by 2030. Additionally, the projects contribute to the state’s target of generating 70% of its electricity from renewable sources by 2030.
Advancing Solar Technology and Market Trends
“We’re excited to expand our solar portfolio through this partnership with GreenSpark, a leader in New York’s renewable energy sector for over two decades,” said Jared Haines, CEO of Catalyze. “We aim to provide New Yorkers with affordable and reliable renewable electricity, regardless of geography or income.”
Kevin Schulte, CEO of GreenSpark Solar, emphasized the importance of community solar in advancing the energy transition for low to middle-income communities. “We are thrilled to support Catalyze in bringing these community solar projects online across New York, furthering the availability of renewable energy for our communities.”
Future Developments and Solar Market Analysis
The anticipated completion dates for these community solar projects range from 2024 to mid-2025. These projects will help accelerate the adoption of solar energy in New York, contributing to the growth of the solar energy market and energy market trends.
About Catalyze and GreenSpark Solar
Catalyze is a fully integrated developer and IPP of distributed renewable energy assets. The company combines proprietary technology, financial strength, and expertise in rooftop solar, community solar, and batteries. Catalyze offers standardized, yet configurable systems to meet the unique needs of commercial and industrial property owners, helping them transition to clean energy.
GreenSpark Solar, founded in 2002, has provided local, cost-effective clean energy solutions throughout New York State for over 20 years. A Certified B Corp and member-owner of the Amicus Solar Cooperative, GreenSpark has been recognized as a top workplace and fastest-growing company in the Finger Lakes region. With over 200 MW of renewable energy installations, GreenSpark continues to lead in advancing solar technology and market trends.
Source：businesswire.com
