Canadian company Boralex Inc. has signed two agreements with the New York State Energy Research and Development Authority (NYSERDA) to procure Renewable Energy Certificates (RECs) for two solar projects with a combined capacity of 450 megawatts. The contracts cover the Fort Covington Solar Project (250 MW) and the Two Rivers Solar Project (200 MW), located in Franklin and St. Lawrence counties in northern New York State.
Strategic expansion in the U.S. market
These contracts were awarded under NYSERDA’s 2024 competitive solicitation for Tier 1 RECs, which represent the environmental attributes of one megawatt-hour of electricity generated from eligible renewable sources. The Office of Renewable Energy Siting and Electric Transmission is currently reviewing the permitting applications for both installations. Construction is scheduled to begin in 2026, with commissioning expected in 2028.
Patrick Decostre, President and Chief Executive Officer of Boralex, stated that the New York market is a strategic growth area for the company. Hugues Girardin, Executive Vice President and General Manager for North America, added that this move reflects the company’s intention to strengthen its U.S. presence amid strong demand for renewable electricity.
Local economic impact and project timeline
The projects are expected to generate between 300 and 400 construction jobs. Once operational, the two sites will provide enough electricity to power approximately 105,000 homes, according to company estimates. Several local officials highlighted the potential for economic benefits, including increased tax revenues and long-term development for surrounding communities.
In Fort Covington, the municipality anticipates significant investment and a boost to local economic activity. In Massena and Brasher, local leaders praised Boralex’s collaboration and the adjustments made to the projects in response to community concerns. Local authorities reaffirmed their commitment to maintaining open dialogue with the company throughout the development phase.
Institutional backing in a competitive market
Doreen M. Harris, President and Chief Executive Officer of NYSERDA, stated that these projects align with the state’s priorities in energy diversification. The initiative supports public-private partnerships aimed at strengthening local renewable energy generation.
The construction of the Fort Covington and Two Rivers projects takes place in a market environment marked by sustained growth in demand for decarbonised electricity across the United States. Boralex, headquartered in Montréal, continues to consolidate its North American market position by leveraging public support mechanisms.
