Catalyze Announces Transaction to Support Community Distributed Generation Portfolio
Catalyze , a clean energy transition company that finances, builds, owns and operates solar and battery storage systems, today announced that it secured $100 million in financing from NY Green Bank, a division of the New York State Energy Research and Development Authority (NYSERDA) , to support a 79 megawatt (MW) portfolio of community distributed generation (CDG) solar projects across New York State.
- Catalyze , a clean energy transition company that finances, builds, owns and operates solar and battery storage systems, today announced that it secured $100 million in financing from NY Green Bank, a division of the New York State Energy Research and Development Authority (NYSERDA) , to support a 79 megawatt (MW) portfolio of community distributed generation (CDG) solar projects across New York State.
- View the full release here: https://www.businesswire.com/news/home/20240515539512/en/
The transaction advances NY Green Bank’s commitment to an equitable energy transition by requiring that a significant percentage of solar project subscribers benefit disadvantaged communities. - The deal will advance New York State’s Climate Leadership and Community Protection Act goal of installing six gigawatts (GW) of distributed solar by 2025, on the path to 10 GW by 2030.
- “We are excited to leverage our extensive community solar expertise to ensure the success of NY Green Bank’s term loan supporting a community distributed generation (CDG) portfolio,” said Jared Haines, CEO of Catalyze.