OYA Renewables Secures $216 Million Loan for Solar Projects

Standard Solar, a renewable energy project developer, owner, and financing company, acquired 21 MW of solar projects in New York and Massachusetts from New Leaf Energy, a renewable energy and energy storage projects developer.

The Copicut project in Freetown, Massachusetts, is a single-axis tracker solar plus battery storage project with over 12 MW of solar and 22 MW hours of storage. Upon completion, it will produce 17,924 MW hours of energy annually.

The 3 MW Main Street Newbury system is in Byfield, Massachusetts, and is fully subscribed to commercial and residential subscribers in Byfield and the surrounding area. This project is expected to produce 3,571 MW hours of clean energy annually. The Saunders Settlement project in Sanborn, New York, is over 6 MW and is expected to produce approximately 8,861 MWh annually.

“Community solar projects like these will generate clean, reliable energy needed by residents and businesses and are integral in helping New York and Massachusetts reach their renewable energy and climate goals. We’re excited to partner with New Leaf Energy, a like-minded leader in clean energy, as we expand our presence in the state”, said Michael Streams, Chief Development Officer for Standard Solar.

“Meeting the growing demand across the country for community solar is critical to growing an equitable clean energy economy. These projects go a long way toward increasing affordable energy in the Northeast”, said Harry Benson, Director of Business Development for Standard Solar.

According to Mercom Annual and Q4 2022 Solar Funding and M&A report, 268 large-scale solar project acquisitions were recorded in 2022 compared to 280 in 2021. In 2022, about 66 GW of solar projects were acquired, with project developers acquiring the most, reaching 35.7 GW.