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Energy - AUGUST 12, 2021

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Greenbacker Renewable Energy Co. acquires New York solar projects totaling 40 MWac

by Released

Greenbacker Renewable Energy Co. has purchased two utility-scale solar projects from Hecate Energy.

The acquisitions of Hecate Energy Albany 1 and Hecate Energy Albany 2, both 20 megawatts of power with alternating current (MWac).

The projects are among Greenbacker’s largest sustainable-energy assets in New York and will be instrumental in helping the state reach its clean energy goals. Current legislation mandates a zero-emissions electricity sector by 2040, which is set to include 70 percent renewable-energy power generation by 2030, as part of the state’s initiative to create clean-energy jobs and foster a green economy. Additionally, New York recently retired Indian Point, a 2.1-gigawatt nuclear plant outside of New York City that generated 12 percent of the state’s electricity, due to safety concerns and increased operating costs. That emissions-free power can be replaced with renewables.

“We’re eager to expand access to cleaner, cheaper power op

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