
Distributed renewable power producer Catalyze Holdings LLC has bought 48 megawatts (MW) of developed community solar projects in New York state from help solar GmbH, a German multinational solar investor.
Located within National Grid’s Load Zone A, the projects are expected to start commercial operation 2026. They grow Catalyze’s under-construction and operational capacity to about 350 MW.
Two of the projects are in Corfu, with a combined capacity of 13.32 MW. Ashville also hosts two of the projects, which have a total capacity of 11.78 MW. Another two are in Portland, with a 10.41-MW capacity. One is in Dunkirk with a 6.24-MW capacity. Brockport has the remaining one, with a 5.96-MW capacity.
“Community solar empowers residents – including renters and those without access to rooftop solar – to participate in and benefit from the clean energy transition”, Catalyze chief executive Jared Haines said in an online statement.
The Houston, Texas-based company said, “All projects are expected to participate in NYSERDA’s [New York State Energy Research and Development Authority] NY-Sun MW Block Program, which provides financial incentives for the development of solar projects across the state. Once operational, the portfolio will generate clean energy for thousands of residents”.
Catalyze added, “An ongoing relationship with hep solar is under consideration as both companies explore future opportunities for collaboration”.
Earlier this month Catalyze said it has secured an $85-million tax equity investment from RBC Community Investments, part of Canadian investment bank RBC Capital Markets.
“The financing will support the construction and completion of approximately 75MW of commercial and industrial and community solar projects across the United States in 2025”, Catalyze said in a press release April 16.
In March Catalyze said it has secured a $400 million multi-year debt facility from ATLAS SP Partners, which is majority owned by Apollo Global Management Inc.
“The financing will support the construction and aggregation of Catalyze’s growing portfolio of commercial and industrial, community solar, and battery storage projects across the United States”, Catalyze said March 14.
“The facility is designed to provide Catalyze with flexibility in its growth plans while streamlining financing for future projects”.
Additionally, “Catalyze’s private equity sponsors, EnCap Investments and Actis, continue to support the company’s growth strategy as it scales its renewable energy offerings”, the company added.
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