Greenbacker Renewable Energy has finalized $950 million in financing to support the development of Cider, a 674 MWdc utility-scale solar farm set to become the largest of its kind in New York State. The company, in partnership with Hecate Energy, closed on an $869 million construction loan and an additional $81 million development loan with Voya Investment Management to fund the acquisition, construction, and operation of the project.

Located in Genesee County, Cider will utilize approximately 2,500 acres of land and is expected to provide clean energy to approximately 120,000 households annually. This project marks a major milestone for Greenbacker, which has long been a key player in New York’s renewable energy sector.

Charles Wheeler, CEO of Greenbacker, emphasized the importance of the project in helping the state achieve its clean energy goals. “This significant achievement will create hundreds of green jobs, deliver affordable clean power, and help build a sustainable future for New Yorkers,” said Wheeler.

Construction of the solar farm began in late 2024, and once completed, it will contribute to the state’s growing renewable energy capacity, further reducing carbon emissions and advancing New York’s climate objectives.

Source: globenewswire.com