Boralex Inc. recently announced that a wholly owned subsidiary of the corporation has completed a transaction with Delaware River Solar, LLC, to acquire Sky High Solar Farm, located in New York State.
Sky High Solar Farm is a 20 megawatt-AC project located in the Town of Tully in Onondaga County. The project is ground-mounted and being developed on three separate parcels of land across 145 acres. The forecasted electric output is estimated at 35 GWh annually, enough electricity to power 4,600 homes annually. Construction is expected to be completed by Q3 2022.
"The acquisition of this mature development project marks our continual progress to achieving the growth and diversification orientations of our strategic plan," said Patrick Decostre, president and CEO of Boralex, in the release. "Sky High aligns well with our current New York portfolio, and will help to advance New York's clean energy transformation."
In 2018, Sky High Solar Farm was one of 26 projects to be selected by the New York State Energy Research Development Authority (NYSERDA) as part of its 2017 Renewable Energy Standard Solicitation for the purchase of Tier-1 Eligible Renewable Energy Certificates (RECs). Each REC represents the environmental attributes of one megawatt hour of electricity generated from an eligible renewable source like solar. The project supports New York's goal to obtain 70% of its electricity from renewable sources by 2030.