CleanCapital Acquires New York Brownfield Solar Projects

CleanCapital has acquired a 13 MW operating solar portfolio made up of two brownfield assets, Steel Sun II and Homeridae, in upstate New York from BQ Energy Development. 

The projects have been operational since 2019.

“The work we did at BQ Energy, including developing and operating these two exceptional projects, is a source of great pride for me,” says Paul Curran, chief development officer at CleanCapital. 

“Fully integrating the former BQ team into CleanCapital has produced a development team with the expertise, track record and financial runway to develop, build and operate hundreds of megawatts in the next few years. Our focus now is to execute on the more than 100 projects in our pipeline and deliver more clean megawatts to our customers as expeditiously as we can.”

Steel Sun II is located on the former Bethlehem Steel site on Buffalo’s waterfront, with energy generated by this project contracted to Kaleida Health and Canisius University. 

The Homeridae project is one of two solar arrays in Olean sited on a former oil refinery and tank farm. 

Both sites benefited from the Department of Environmental Conservation Region 9 brownfield cleanup program. Both have been financed by M&T Bank’s Commercial Equipment Finance Group.