Renewable energy firm RIC Development LLC (RIC Energy) and investment company Rosemawr Management have partnered to finance interconnection deposits, enabling the development of up to 450 MW of solar projects across New York.
Financing Boost for Solar Projects in Upstate NY
This groundbreaking financing solution tackles a key market challenge that has slowed the development of solar and energy storage projects in Upstate New York.
“This investment fits well with our mission of providing flexible capital to further the energy transition and we are excited to be working with RIC to help further these projects.” said Josh Herlands, Head of Sustainable Infrastructure at Rosemawr.
RIC Energy Partnership to Boost Clean Energy Access and Development
Through this partnership, RIC Energy will expand its project portfolio, accelerate progress within the NYISO interconnection queue and enhance access to affordable, clean energy for local communities. The two partners plan to implement the new capacities within the next three years.
“We are pleased to secure this partnership with Rosemawr to support building out the power grid in Upstate New York. This investment will have a profound impact on the region by increasing domestic clean power generation, providing discounted power to homeowners and businesses and creating quality full-time jobs.” said Jonathan Rappe, CEO of RIC Energy North America.
RIC Energy and Rosemawr: Driving Clean Energy and Sustainable Investments
With a rich Spanish heritage and global expertise, RIC Energy has been at the forefront of renewable energy development since its founding in 2005. The company specializes in originating, developing and owning multi-technology projects including solar, hydrogen, wind, biogas and battery storage.
For 20 years, RIC Energy has been dedicated to advancing the clean energy transition through innovative, efficient, and environmentally friendly solutions. Known for de-risking high-value projects, the company ensures they are ready for construction, either by RIC Energy or its trusted partners.
Rosemawr is an investment management firm specializing in municipal, sustainable infrastructure and charter school sectors. Founded in 2008, the firm manages over $1 billion in assets. Its sustainable infrastructure portfolio features investments in solar, wind, energy storage and energy efficiency projects nationwide.