Renewable Energy Group Buys 12 New York Community Solar Projects

BW Solar, a Canada-based a developer of community solar, distributed generation, utility solar, and utility-scale storage assets, said it has sold 12 New York community solar projects with a combined capacity of 76.7 MW to Catalyze, a clean energy transition company that finances, builds, owns and operates solar and battery storage systems.

The groups on April 23 said the transaction includes a portfolio of six 38.2-MW pre-construction projects, and another group of six 38.5-MW projects in early-stage development, located in upstate New York. The group of notice-to-proceed ready, or NTP-ready, projects are targeted for commercial operation this year and next year.

Catalyze, headquartered in Houston, Texas, and known for making renewable energy accessible for commercial and industrial businesses, will leverage its experience in executing projects in New York while demonstrating its commitment to innovative practices in solar development to bring these projects to fruition. For example, one project, slated for construction this summer, will incorporate an all-terrain tracker designed to navigate the challenging features of a steep, undulating hill. This innovative approach mitigates the need for extensive site grading, thereby reducing construction costs and environmental disruption.

“BW Solar is committed to the energy transition by originating and developing high-quality renewable energy projects, and this transaction is testament to our execution expertise. We were pleased to work with Catalyze in a seamless transaction process for the acquisition and look forward to seeing the projects come to fruition,” said Tai Nguyen, CEO of BW Solar, which is part of BW Group.

“We appreciate the BW Solar team’s collaboration in this transaction process, helping ensure we meet the increasing demand for renewable electricity in New York,” said Jared Haines, CEO of Catalyze. “We look forward to deploying our operational expertise to bring these projects online within the next two years, increasing the adoption of solar in the state and engaging local communities in the process.”

—POWER edited this content, which was contributed by BW Solar and Catalyze.