US state government of New York grants $46m for solar projects

The state government of New York, US has allotted $46m for the development of solar projects under its NY-Sun initiative for large-scale solar energy projects.

The funds were granted the funds to 28 developers through competitive program to finance 76 large-scale solar energy projects in 33 counties across the state.

Commenting on the awards, New York Governor Andrew M. Cuomo remarked that the initiative would drive the growth of solar energy system that will help businesses and municipalities with low-cost electricity benefits.

“At the same time, it is building the State’s clean-energy economy and growing jobs, showcasing once again that New York is a leader in renewable energy and environmental stewardship,” added Cuomo.

The beneficiaries of the funds include Advanced Solar Products, Amberjack Solar, Carlisle Construction Materials, Community Energy Solar, Constellation New Energy, County Agency of NY, and Distributed Sun, among others.

The funds awarded from the state leverages $100m in private investment, resulting in $146m in infrastructure projects.

Meanwhile, the grants were made during the first of three rounds of the Competitive PV solicitation which is a part of the state’s renewable portfolio program.

It has also stated that the proposals for second round of finance have been received, while third round proposals are due by 29 August 2013.