Boralex Secures 450 MW Solar Deal in New York

• Boralex partners with NYSERDA to deliver 450 MW solar power, boosting New York's clean energy goals and expanding its U.S. renewable footprint.

Boralex Inc has entered into an agreement with the New York State Energy Research and Development Authority (NYSERDA) to supply Tier-1 Renewable Energy Certificates (RECs) from two solar projects in New York, with a combined capacity of 450 MW. This contract supports New York's renewable energy goals and enhances Boralex's presence in the U.S. market.

The projects, which are part of New York's initiative to increase clean energy production, will contribute significantly to the state's renewable energy targets. Boralex's commitment to these projects underscores its strategy to expand its renewable energy portfolio in North America.

How will Boralex's agreement with NYSERDA impact New York's renewable energy goals?

• The agreement will help New York achieve its goal of 70% renewable energy by 2030 by adding 450 MW of solar capacity.
  
• The supply of Tier-1 Renewable Energy Certificates (RECs) will support the state's Clean Energy Standard, which mandates utilities to procure a certain percentage of their electricity from renewable sources.
  
• The projects will contribute to reducing greenhouse gas emissions, aligning with New York's Climate Leadership and Community Protection Act, which aims for an 85% reduction in emissions by 2050.
• The increased solar capacity will enhance grid reliability and energy security by diversifying the state's energy mix.
  
• The agreement will likely stimulate local economic growth through job creation in construction, maintenance, and operation of the solar projects.
• Boralex's involvement strengthens the U.S.-Canada partnership in renewable energy development, potentially leading to more cross-border collaborations.
  
• The projects will serve as a model for future public-private partnerships in renewable energy, showcasing the effectiveness of collaboration between government agencies and private companies.