OYA Solar closes USD 35m financing for solar projects in New York

US solar project developer OYA Solar on Wednesday said it has finalised USD 35 million (EUR 30m) in construction and interconnection financing for 22 MW of community solar in New York state.

The funds were secured from NY Green Bank, part of NYSERDA.

The first of the three projects is a solar park in the town of Constable, which is already under construction and once completed will have a capacity of 6.8 MW in direct current (DC). The three solar farms are expected to be operational early in 2021.

This trio will be the first in a portfolio with a total DC capacity of 100 MW, which is expected to be completed by the end of 2021. The whole portfolio will produce 155 GWh of power yearly.

The company is looking to secure commitments from tax equity investors for 2021.

(USD 1.0 = EUR 0.859)

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