Catalyze Expands Clean Energy Portfolio with 48 MW Solar Acquisition from Hep Solar in New York

Key Takeaways

Catalyze acquires 48 MWdc of community solar projects in New York from hep solar.
The projects are nearing construction and aim for operational status by 2026, aiding local clean energy targets.
The initiatives will lower energy costs and bolster energy equity for local residents.

Acquisition of Community Solar Projects

Catalyze, an integrated developer and Independent Power Producer (IPP) focused on distributed renewable energy, has acquired a portfolio of 48 megawatts (MWdc) of community solar projects located in New York. Purchased from hep solar, a German-based global solar development firm, this portfolio features eight projects situated in National Grid’s Load Zone A within upstate New York.

These solar projects are in the final development stages, with construction expected to commence soon, targeting a completion date for commercial operations by 2026. The new developments will assist New York’s clean energy goals and provide community solar benefits to local residents. The specific projects involved include two in Ashville with a total of 11.78 MWdc, two in Corfu totaling 13.32 MWdc, one in Brockport at 5.96 MWdc, two in Portland at 10.41 MWdc, and one in Dunkirk at 6.24 MWdc. All eight projects will participate in the NYSERDA NY-Sun MW Block Program, which incentivizes solar energy expansion across the state.

Jared Haines, CEO of Catalyze, emphasized the importance of these projects, stating, “These projects represent a significant step forward in our mission to expand access to renewable energy in New York. Community solar empowers residents – including renters and those without access to rooftop solar – to participate in and benefit from the clean energy transition.” Haines expressed excitement about advancing their efforts in New York and bringing these crucial projects to fruition.

Georg von Eichendorff Strachwitz, an Executive Board Member of hep solar, highlighted the positive impact of their collaboration: “We’re proud to contribute to New York’s clean energy supply through our US project development. This transaction showcases both the value created by hep solar and ensures the successful delivery of these community solar projects by a strong and experienced partner like Catalyze.” He reiterated the shared vision between the two companies in fostering impactful renewable energy projects.

Once operational, these solar farms are expected to generate renewable energy for thousands of New Yorkers, reducing energy costs while enhancing energy equity and grid reliability. This acquisition signifies a major advancement in Catalyze’s strategic growth within New York and underscores the company’s commitment to promoting community solar initiatives throughout the United States. Catalyze is also considering future partnerships with hep solar, further strengthening their collaboration.

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