The New York Power Authority's 51% ownership in Rich Road Solar marks its first renewable development under a public-private partnership model.
New York Power Authority will own 51% of Rich Road Solar, a 240-MW solar project developed with EDF. The deal gives NYPA a majority stake in the venture.
Rich Road Solar is the first project NYPA has developed using a public-private partnership model. The approach is designed to advance renewable energy by combining public authority with private development expertise.
EDF is the private partner in the project. The arrangement marks a new structure for NYPA's renewable energy work.
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