popular articles

United States: funding announced for community solar power in New York City

Catalyze secures $100 million in financing from NY Green Bank to develop 79MW of community solar projects, supporting New York State's decarbonization goals.
Financement CDG New York

Please share:

Catalyze, a company specializing in clean energy transition, announced today that it has secured significant financing from NY Green Bank, an arm of NYSERDA (The New York State Energy Research and Development Authority). This $100 million financing will be used to develop and build a 79 megawatt (MW) portfolio of solar CDG (community distributed generation) projects across New York State. On the other hand, this initiative is aligned with the goal of the New York State Climate and Community Protection Act. It aims to install six gigawatts of distributed solar power by 2025 and ten gigawatts by 2030.

Financing details and strategic objectives

The term loan granted by NY Green Bank uses a sale-leaseback structure for these CDG projects. This is a first for the bank in this field. The funding also ensures that a proportion of solar project subscribers come from historically disadvantaged communities. In addition to a commitment of at least 65%. This focus on energy equity is a central pillar of NY Green Bank’s mission. It reflects a deep commitment to an equitable energy transition.

Technologies and advances for project realization

Catalyze’s technologies include solar and battery storage systems, which the company finances, builds, owns and operates. Catalyze’s technological approach optimizes the capture and use of solar energy. This makes projects not only viable, but also more efficient. The integration of their proprietary technology suite helps bring innovative solar development practices to the region. The aim is to promote access to clean energy at low cost. This project is aimed at low- and moderate-income communities. Catalyze CEO Jared Haines is delighted with the collaboration:

“We’re excited to leverage our extensive community solar expertise to ensure the success of NY Green Bank’s term loan, supporting a community distributed generation (CDG) portfolio.”

Andrew Kessler, President of NY Green Bank, is equally enthusiastic:

“NY Green Bank is pleased to support Catalyze, which is increasingly focusing on New York State-based CDG solar projects and equitable energy solutions.” Adding, “As our first term loan using a sell-leaseback structure for a CDG portfolio, coupled with a minimum 65% subscriber commitment benefiting historically disadvantaged communities, this transaction underscores NY Green Bank’s unique ability to provide innovative financing solutions that support the equitable distribution of clean energy.”

Impact and future prospects

The collaboration between Catalyze and NY Green Bank promises to have an impact on communities across New York State. In particular, by providing increased access to solar energy and helping to meet the state’s carbon emission reduction targets. In addition, projects under development in Lancaster and Amherst are examples of how the company is expanding its footprint in the state. This shows the potential for future growth and expansion of large-scale renewable energy initiatives.
The partnership between Catalyze and NY Green Bank is a model of innovation and commitment to sustainability and equity. This financing is a step forward in realizing New York’s energy ambitions. Indeed, it shows how strategic collaborations can catalyze progress towards a cleaner, fairer energy future.

Register free of charge for uninterrupted access.

Publicite

Recently published in

The US solar industry is expected to add 502 GWdc of capacity to the market by 2035. However, political uncertainty could jeopardize these projections, putting future investments at risk.
The UK government has introduced an amendment aimed at preventing its public company from buying components linked to forced labour, which could impact the supply of Chinese solar panels.
The UK government has introduced an amendment aimed at preventing its public company from buying components linked to forced labour, which could impact the supply of Chinese solar panels.
CATL introduced several innovative batteries for electric vehicles, including the Naxtra, the first series-produced sodium-ion battery, and the Freevoy, marking the entry into the era of multiple power sources.
CATL introduced several innovative batteries for electric vehicles, including the Naxtra, the first series-produced sodium-ion battery, and the Freevoy, marking the entry into the era of multiple power sources.
Meyer Burger announces the introduction of short-time work at its Thalheim site starting May 1, 2025, affecting 300 employees due to temporary material shortages required for solar cell production.
Meyer Burger announces the introduction of short-time work at its Thalheim site starting May 1, 2025, affecting 300 employees due to temporary material shortages required for solar cell production.
After a one-year interruption, the Noor Ouarzazate III solar plant, with a capacity of 150 MW, has been brought back into operation by the Masen group. This event highlights Morocco's ambitions in renewable energy and energy transition.
Algeria explores a partnership with Chinese giant LONGi to launch local solar panel production. This initiative is part of the country's energy diversification strategy.
Algeria explores a partnership with Chinese giant LONGi to launch local solar panel production. This initiative is part of the country's energy diversification strategy.
The United States plans to impose heavy tariffs on solar panels from four Asian countries, citing transnational subsidies supported by China.
The United States plans to impose heavy tariffs on solar panels from four Asian countries, citing transnational subsidies supported by China.
Chinese group Das Solar begins construction of its first European factory in Mandeure, with an initial 2 GW capacity and the planned creation of 600 jobs.
Chinese group Das Solar begins construction of its first European factory in Mandeure, with an initial 2 GW capacity and the planned creation of 600 jobs.
EDP (Energias de Portugal) expands its German portfolio with a second 65 MWp photovoltaic complex. Carried out with Kronos Solar EDPR, this initiative supplies nearly 22,000 households and marks a step forward in its European growth strategy.
Recurrent Energy launched operations of a 127 MW solar site in Louisiana, marking a strategic first entry into a state with strong industrial energy demand.
Recurrent Energy launched operations of a 127 MW solar site in Louisiana, marking a strategic first entry into a state with strong industrial energy demand.
AXIAN Energy has entrusted Voltalia and Entech with the development of a 60 MW solar plant combined with 90 MWh storage in the Kolda region, scheduled to be operational by 2026.
AXIAN Energy has entrusted Voltalia and Entech with the development of a 60 MW solar plant combined with 90 MWh storage in the Kolda region, scheduled to be operational by 2026.
Atlas Renewable Energy has signed a power purchase agreement with Chlorum Solutions to power its chemical operations in Brazil with 24 MW of solar energy from the Draco complex.
Atlas Renewable Energy has signed a power purchase agreement with Chlorum Solutions to power its chemical operations in Brazil with 24 MW of solar energy from the Draco complex.
Kosol Energie has completed a 10 MW solar power plant in the Kutch desert, relying on GoodWe inverters to optimise energy output under extreme climate conditions.
EDF Renewables and Power Sustainable secured financing for Desert Quartzite, a 375 MW solar power plant with storage, located in California and operational since December 2024.
EDF Renewables and Power Sustainable secured financing for Desert Quartzite, a 375 MW solar power plant with storage, located in California and operational since December 2024.
Catalyze has secured an $85 million tax equity investment from RBC to support the development of 75 MW of commercial and community solar projects across the United States by the end of 2025.
Catalyze has secured an $85 million tax equity investment from RBC to support the development of 75 MW of commercial and community solar projects across the United States by the end of 2025.
The New York-based developer has received permission to operate Troy Solar I, a 995 kW power plant connected to the Central Maine Power grid.
The New York-based developer has received permission to operate Troy Solar I, a 995 kW power plant connected to the Central Maine Power grid.
US manufacturer ES Foundry has signed a three-year, 150 MW supply agreement with a community solar developer to reinforce its domestic supply chain and support the expansion of the solar market in the United States.
The Ethiopian Prime Minister’s visit to TOYO’s factory in Vietnam signals a new phase in energy cooperation with the Japanese group, focusing on industrial expansion in Ethiopia.
The Ethiopian Prime Minister’s visit to TOYO’s factory in Vietnam signals a new phase in energy cooperation with the Japanese group, focusing on industrial expansion in Ethiopia.
Niger is increasing its reliance on solar energy to offset the reduction in Nigerian electricity exports, a direct consequence of diplomatic tensions following the regime change in Niamey.
Niger is increasing its reliance on solar energy to offset the reduction in Nigerian electricity exports, a direct consequence of diplomatic tensions following the regime change in Niamey.
DTE Energy has begun construction of a new solar park to provide Ford Motor Company with 100% renewable electricity for its manufacturing sites in Michigan.
DTE Energy has begun construction of a new solar park to provide Ford Motor Company with 100% renewable electricity for its manufacturing sites in Michigan.
UK commercial and industrial solar specialist Atrato Onsite Energy has finalised a structured financing agreement with Barclays to support the expansion of its photovoltaic asset base.
Matrix Renewables and rPlus Energies have completed the commissioning of Pleasant Valley Solar 1, a 261 MWdc project located in Ada County, Idaho, now the largest solar facility in Idaho Power’s network.
Matrix Renewables and rPlus Energies have completed the commissioning of Pleasant Valley Solar 1, a 261 MWdc project located in Ada County, Idaho, now the largest solar facility in Idaho Power’s network.
The first phase of the 500 MW photovoltaic project in Yingjisha has been commissioned, marking a key milestone in expanding solar capacity in the Kashgar region.
The first phase of the 500 MW photovoltaic project in Yingjisha has been commissioned, marking a key milestone in expanding solar capacity in the Kashgar region.
Groupe VALOREM secured €22mn in funding with Arkéa Banque to develop 63 rooftop photovoltaic plants in Nouvelle-Aquitaine and Occitanie, consolidating its model in a shifting French solar market.
Groupe VALOREM secured €22mn in funding with Arkéa Banque to develop 63 rooftop photovoltaic plants in Nouvelle-Aquitaine and Occitanie, consolidating its model in a shifting French solar market.

Advertising