Greenbacker buys 40 MW of NY solar projects from Hecate

Greenbacker Renewable Energy Company LLC announced on Thursday that it has acquired two utility-scale solar projects totalling 40 MW in alternating current (AC) in the US state of New York.

The projects were bought from Chicago-based renewables developer Hecate Energy LLC for an undisclosed price.

The Hecate Energy Albany 1 LLC and Hecate Energy Albany 2 LLC solar farms will be sited in Albany County, with each set to generate 20 MW of AC power. The pair comes with long-term off-take contracts already in place.

The Albany 1 plant will sell its output to the New York State Energy Research and Development Authority, while Albany 2 is under contract with Connecticut electricity supplier Eversource Energy (NYSE:ES) and United Illuminating Company, Greenbacker said.

Construction works are due to commence in the third quarter of 2021. Commercial operations are expected in the summer of 2022.

Greenbacker said it has a number of signed commitments with Hecate to develop a pipeline of projects worth “hundreds of megawatts” of clean power in the state of New York over the next few years.

Following the acquisition of the Albany projects, Greenbacker will boast around 1.18 GW of capacity, including the pipeline. Its portfolio will have 855.4 MW of utility-scale and distributed solar plants, 300.1 MW of wind farms, 16 MW of battery storage and 12 MW of biomass-based facilities, the company added.

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