Photovoltaic project developed by RIC Energy in Hanover, New York. (Photo: Business Wire)
Renewables developer RIC Energy announced March 4 the sale of three photovoltaic plants to decarbonization company Luminace.
The plants have a combined capacity of 20 megawatts (MW) and are located in New York State Electric and Gas and National Grid service territories in upstate New York.
The facilities are expected to provide 100% clean energy to more than 5,000 homes participating in the utilities’ community solar programs, RIC said in a press release.
The total investment for these projects is expected to be more than $50 million.
“RIC Energy’s current portfolio includes nationwide photovoltaic and energy storage projects at both the community and utility scale,” said José Luis Moya, Global CEO of RIC. “By expanding our presence in New York, as well as Maryland, Texas and California, we not only contribute to the energy landscape in those states but also enhance the overall resilience and value of our portfolio.
This sale follows a transaction RIC closed in December with another renewable energy development group for the sale of three plants totaling 15.5 MW in upstate New York.
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