Boralex secures two 450 MW solar contracts in New York State

Boralex signed renewable energy certificate contracts with New York’s energy authority for two solar projects totalling 450 MW in capacity.

Partagez:

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.

TotalEnergies will develop a 1.8 MW photovoltaic installation for Daehwa Pharmaceutical, covering approximately 20% of the annual energy requirements of the production site located in Hoengseong-gun, South Korea, under a 20-year agreement.
Quinbrook Infrastructure Partners announces full operational launch of Cleve Hill Solar Park, now becoming the largest active photovoltaic power plant in the United Kingdom with a total installed capacity reaching 373 MW.
European photovoltaic module manufacturer BISOL is integrating G12R solar cells into its product range, replacing the former M10 cells, to improve product performance and technological competitiveness starting from the second quarter of 2025.
Adani Green Energy Limited becomes the first Indian company to achieve 15,539.9 MW of operational renewable capacity, cementing its position among the global top 10 independent green power producers.
Italian group Pronur establishes itself in Saudi Arabia with support from AstroLabs, aiming to provide advanced technologies in the renewable energy sector and develop new industrial partnerships.
Ascent Solar Technologies, Inc. announces the launch of a $2mn public offering to finance working capital, product development and general expenses.
Ardian Clean Energy Evergreen Fund takes control of 117 photovoltaic plants totalling 116 MW in Italy, further consolidating its presence in the country’s renewable energy sector.
Zelestra has secured $282mn financing from Natixis CIB, BNP Paribas and BCI for its Aurora project, combining a 220 MWdc solar plant and 1 GWh storage capacity in the Tarapacá region, Chile.
Générale du Solaire has inaugurated in Leutenheim, Bas-Rhin, a floating photovoltaic plant of approximately 20 MWc installed on a former gravel pit, marking the region's first large-scale project supported by successful local participatory funding.
Namibia begins construction of its largest solar plant, Sores|Gaib, aiming to reduce dependence on energy imports by leveraging its solar potential, considered among the highest globally according to the World Bank.
Bangladesh’s interim government has ordered mandatory deployment of solar systems on public building rooftops to reduce reliance on costly fossil fuel imports amid a fragile economic backdrop.
The Energy Progress Report 2025 shows an improvement in global electricity access to 92%, but highlights that 666 million people remain without electricity, particularly due to insufficient international funding for rural areas.
Estimated at $384.4mn in 2025, the global photovoltaic panel recycling market is expected to grow annually by 7.4%, reaching $548mn in 2030, driven by the rapidly increasing number of installations reaching end-of-life.
Estimated at $613.57bn in 2025, the global photovoltaic market is expected to reach $968.32bn by 2030, driven by declining costs and growing demand from residential and utility sectors, according to a MarketsandMarkets analysis published on June 26.
Sasol International Chemicals concludes a virtual contract with Akuo to supply half of the electrical needs for its Lake Charles industrial complex in the United States, via a solar plant scheduled for 2026.
Eurowind Energy initiates a €174.8mn investment to build a 220 MW solar park in Vișina, Romania, capable of supplying around 150,000 households annually.
CleanCapital expands its portfolio by acquiring solar and energy storage assets totaling 27 MW in California and Massachusetts from Pacifico Energy to meet growing demand in the United States.
BrightNight and Cordelio Power commission a major 300 megawatt solar project in Arizona, attracting significant investments from JPMorgan and Capital One, with estimated local economic benefits of $180mn.
Austria is launching an unprecedented 20% bonus on photovoltaic subsidies to promote equipment manufactured in Europe, with a total envelope of €20 million dedicated to solar installations and energy storage systems.
Chinese manufacturer Longi will invest alongside Pertamina NRE in a 1.6 GW site at Deltamas, aiming to strengthen the local photovoltaic chain and capture demand expected under Indonesia’s power plan.