Amp’s US operations have successfully closed financing for a $106.5M New York portfolio of wholly-owned community solar plus storage projects – EQ Mag Pro
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Amp’s US operations have successfully closed financing for a $106.5M New York portfolio of wholly-owned community solar plus storage projects.
The portfolio consists of five separate community solar projects, including three sites paired with battery storage, located throughout central New York State. The 40 megawatts of solar generation will be fully contracted upon completion by a mix of residential and commercial customers.
Amp executed a tax equity agreement with Advantage Capital along with a debt financing agreement with CIT’s Power and Energy Business to finance the portfolio.
The projects under this portfolio will help the state of New York to achieve its climate and sustainability goals, including the recently increased goal of ensuring at least 10GW of installed solar capacity by 2030, while also improving the resilience and quality of the upstate grid.
