Cornell University boosts solar capacity

A 2 MW solar array on 11 acres of Cornell property in the Town of Lansing, New York, US has been financed by sources including sponsor equity from Building Energy Holding USA and a tax equity investment managed by Sol Systems.

The University’s Snyder Road Solar Farm, comprises 6778 panels that total 2.067 MW (DC) or 1.76 MW (AC), and will produce 2,388,357 kWh in year one.

Building Energy was the developer and sponsor of the project while the transaction marks Sol Systems’ ongoing initiative to bring new sources of tax equity to the solar asset class and streamline financing to grow this sector.

‘If not done right, placing tax equity into one-off sub-5 MW deals can be challenging given transaction costs for these smaller deals,’ explained Yuri Horwitz, CEO of Sol Systems.

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