INSIGHTS
New York’s Biggest Solar Farm Gets $950 Million in Funding
Greenbacker’s Head of Infrastructure Daniel De Boer recently spoke with Bloomberg about our Cider solar farm—the largest solar energy project in New York—which broke ground late last year in Genesee County. The project is expected to enter operation by the end of 2026, when it will begin generating enough clean energy to power over 120,000 homes and helping the state reach its goal of obtaining 70% of its electricity from renewables before 2030.
The power play: Distributed energy resources
A landmark COP28 deal for the energy transition
The IEA’s World Energy Outlook 2023 – Key takeaways, opportunities, and the impact of the IRA
PRESS ROOM
Greenbacker Renewable Energy Company and American Farmland Trust Partner to Advance Smart Solar Development
American Farmland Trust is proud to announce its partnership with Greenbacker Renewable Energy Company, an energy transition-focused investment manager and independent power producer, to promote Smart Solar development that balances renewable energy growth with farmland protection and long-term agricultural viability.
ORES greenlights New York’s largest solar farm; spurs start of construction
Hecate Energy LLC and Greenbacker Renewable Energy Company announce that the 674 MWdc / 500 MWac Cider Solar Farm is moving forward with construction as approved by the New York Office of Renewable Energy Siting and Transmission (“ORES”). With the ORES Siting Permit and a formal notice to proceed with construction with this flagship project, Hecate and Greenbacker reaffirm their commitments to powering New York’s clean energy future. The utility-scale solar project, spanning approximately 2,500 acres near the towns of Elba and Oakfield in Genesee County, is poised to bring transformative benefits to the region and help advance New York state’s renewable energy goals.
Greenbacker secures nearly $1 billion financing to support acquisition and construction of largest solar project in New York State
Greenbacker has secured $950 million in financing to support the acquisition, construction, and operation of its largest clean energy project to date. After acquiring the project from Hecate Energy LLC, one of the largest renewables developers in the US, Greenbacker partnered with six of the world’s leading project finance banks and financial institutions to secure $869 million in construction-to-term, letter of credit, and tax equity bridge loan financing and with a global investment manager for an additional $81 million development loan facility. When complete, the 674 MWdc “Cider” utility-scale solar farm will power over 120,000 homes as the largest solar project in the state of New York.
2025 Outlook on Energy Transition Investment
In Greenbacker’s 2025 Outlook Roundtable, available on Asset TV’s website and Bloomberg channel, heads of strategy Ben Baker, Dan De Boer, and David Zackowitz offer their insights on 2025 energy transition opportunities. Trends they see playing out next year include surging energy demand, the rising importance of grid resilience for homes and businesses, and the increasing need for datacenters to access outsized quantities of power.
