Dynamic Energy and SunStream Hudson Break Ground on 21 Acres of Solar in New York
SunStream Hudson, which owns and operates solar projects, and Dynamic Energy Solutions, a turnkey solar engineering and construction company, have begun building 5.3MW of solar in New York. The system is expected to be operational in August 2016.
The project will be the largest healthcare-based solar system in New York and will contain about 16,000 solar panels located on vacant land in the Town of Greenport, Columbia County. The solar-generated power will offset about 10 percent of power consumed by St. Peter’s Health Partners’ St. Peter’s Hospital and the Center for Disability Services.
The New York State Energy Research and Development Authority (NYSERDA) has facilitated the projects through NYSERDA’s state solar incentives under the NY-Sun Initiative. MMA Energy Capital is providing construction financing for the projects, and M&T Bank will provide permanent financing.
“These projects will help New York meet Governor Cuomo’s objective for the state to obtain 50% of its power from renewable sources by 2030. It is an aggressive target, and NY-Sun and the New York PUC have been very supportive of the industry, making New York one of the strongest solar markets in the country,” said Richard Fortin, Manager of SunStream Hudson. “We chose Dynamic Energy to build these projects, because of their execution record and Dynamic’s deep experience in the state.”
“Dynamic is extremely active in New York. We have over 20 megawatts of projects in process, including these exciting projects with SunStream Hudson. It has been a pleasure to work with stakeholders in the region in building a cleaner future for us all,” said Michael Perillo, CEO of Dynamic Energy.
About SunStream Partners
SunStream develops, owns, operates and maintains custom solar installations for clients seeking sustainable energy solutions. SunStream brings together the resources of world class energy engineering, integration firms and institutional investors to develop renewable energy projects for clients interested in reducing overall energy consumption, decreasing dependence on fossil fuel, and lowering the cost of energy to power their business operations.
About MMA Energy Capital
MMA Energy Capital provides custom solutions around construction debt and development capital for renewable energy projects that enable its customers to effectively develop and build world class projects through access to efficiently placed capital. For more information on MMA Energy Capital, please contact Bob Hopper at [email protected], or visit our website, www.mmaenergycapital.com.
M&T Bank Corp. is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.
About Dynamic Energy Solutions
Dynamic Energy is a turnkey energy solutions provider that develops, finances, engineers, constructs and operates projects for corporate, industrial and institutional customers. Dynamic builds energy projects that reduce customer expenses, improve operating efficiency, provide an attractive return on investment and achieve sustainability goals. For more information, please visit http://www.dynamicenergyusa.com or call 1-877-809-8884.