The State’s Climate Leadership and Protection Act outline plans in January 2019 for 70% of the state’s electricity to be supplied by renewable energy projects by 2040. In order to achieve this target, Kathy Hochul the state’s governor announced the tender of 22 green energy projects which will require an investment of $2.7bn. The future plans for the state consist of an 85% reduction in greenhouse gas emissions by 2050 (from 1990 levels) and to be fully net zero state-wide in the same year. In this article, we will discuss three New York-based renewable energy developers who will play a key role driving this transition.
1) Active Solar (Galway, New York)
Founded in 2015 by Frank McCleneghen, Active Solar has become a leading developer of commercial and small utility-scale solar projects. The New York-based firm has assembled a vastly experienced solar PV and solar thermal development team. The firm has attracted clients across the United States including Government Authorities, School Districts, and Universities. Active Solar is responsible for financing, developing, or constructing over 250 solar parks which have an installed capacity of over 100MW. The financing options offered include direct purchase loans, PPA, and tax leases. The group actively seeks PPA contracts that ensure reliable income and offers savings for institutions and companies.
2) Sunlight General Capital (New York, New York)
Sunlight General Capital is a highly experienced solar developer which has been operating in the green energy sector for over a decade, mainly responsible for developing, financing, owning, and operating solar projects. The group has developed projects for Government facilities, schools, universities, and community projects. Sunlight is a specialist provider of PPA contracts and has been involved in numerous deals across their 130 projects developed since 2009.
3) AC Power (New York, New York)
Since its inception in 2016, AC Power has completed numerous solar projects across the United States. AC Power was founded by Annika Colston, who relies on her decade’s worth of experience working in landfill gas-to-energy projects in order to identify sites with great solar potential. The firm has a vastly experienced core team that can offer 50 years of experience developing green energy projects. The firm continues to grow from strength to strength and has a project pipeline in the excess of 150MW in various stages of construction across the Northeast and Mid-Atlantic.
Image Source: Manny Becarra (23.03.23)