“January 19 (Renewables Now) – The Power and Energy business of CIT, a division of First Citizens Bank, has arranged USD 50.5 million (EUR 44.5m) in financing for a subsidiary of Toronto-based Amp Energy so it could build a portfolio of community solar parks in the state of New York.
The so-called NY3 portfolio includes six solar projects throughout the central part of the state with a combined capacity of 34 MW. They are expected to reach commercial operation starting in the first quarter of the year. Their output is fully contracted for sale to area businesses and consumers.
CIT also recently supported Amp Energy as the sole lead arranger of financing for the 40-MW NY2 community solar portfolio spanning five sites, each with battery storage capabilities of 9 MW.
(USD 1.0 = EUR 0.881)”
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Renewables Now 19 January 2022.
Oak Hill Solar 1, LLC and Oak Hill Solar 2, LLC may be part of NY2 Portfolio