OYA Solar Reaches 12% Penetration In The New York Community Solar Market With Omni Navitas Agreement
FOR IMMEDIATE RELEASE
New York: 22 June 2021 – OYA Solar is pleased to announce the closing of an exclusive co-development agreement with Omni Navitas to develop, construct, and own 600 MW of community solar projects across the Northeast United States. The agreement adds a substantial number of sites to OYA’s existing 2 GW community solar and utility-scale pipeline across North America.
OYA and Omni expect to build the first 240 MW of projects under the arrangement in New York over the next 24 months and to become one of the largest community solar owners in the Northeast United States. OYA expects to have 100 MW in construction this year from its existing New York pipeline, which would represent approximately 30% of the Community Solar Projects constructed in the State in 2020.
“This co-development agreement accelerates our progress toward providing widespread access to the benefits of community solar across the Northeast United States,” says Manish Nayar, the CEO and Founder of OYA Solar. “We bring experience and a long track record of working through the complexities of moving solar projects through construction and operation and with 12%+ of the state-wide community solar pipeline in our portfolio, this relationship in no small way supports the State’s goal of carbon neutrality by 2050 and environmental justice for all.”
“We bring experience and a long track record of working through the complexities of moving solar projects through construction and operation and with 12%+ of the state-wide community solar pipeline in our portfolio, this relationship in no small way supports the State’s goal of carbon neutrality by 2050 and environmental justice for all.”
“Omni is excited to embark on this enterprise with OYA and to employ its experience in leasing, permitting, interconnection analysis, environmental review, and other due diligence leading to the construction phase of solar projects,” says Suki Singh, President and CEO of Omni. “OYA is a dynamic company with a realizable vision to vastly expand renewable energy projects across the US and beyond and Omni is delighted to be working with them to achieve the mission of reducing carbon emissions and combatting climate change.”
Not limiting their relationship to New York, OYA and OMNI expect to further collaborate on portfolios in Massachusetts and New York, the Mid-Atlantic states of Virginia and Pennsylvania, and as far south as New Mexico, all of which align with OYA’s commitment to environmental justice. Notably, New Mexico, Pennsylvania, and Virginia are proving to be strong emerging community solar markets, fueled in part by policies that prioritize expanded access to the benefits of solar energy to everyone.
About OYA Renewables
OYA Renewables is a North American full-service solar developer and independent power producer. Its projects provide clean energy and widespread economic and environmental benefits for landowners, communities, and energy customers. It is committed to developing and operating solar projects, with a particular focus on community solar, that incentivize the participation of low-to-moderate income households. Founded in 2009, OYA is the first North American solar platform to have been certified as a diverse supplier and minority business enterprise. We have successfully monetized in excess of 1,400 MWDC of distributed and utility-scale solar projects across North America and our current development pipeline exceeds 3 GWDC. For more information, please visit www.oyarenewables.com.
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