RIC Energy, a renewable energy company, and Rosemawr Management, an investment firm specializing in municipal and sustainable infrastructure, have announced a financing partnership. This collaboration will provide funding for interconnection deposits, supporting the development of up to 450 MW of solar and energy storage projects across New York over the next three years.

Jonathan Rappe, CEO of RIC Energy North America, said in a statement, “We are pleased to secure this partnership with Rosemawr to support building out the power grid in Upstate New York. This investment will have a profound impact on the region by increasing domestic clean power generation, providing discounted power to homeowners and businesses, and creating quality full-time jobs.”

This new financing solution tackles a key challenge that has slowed the progress of solar and energy storage projects in Upstate New York. The partnership will move projects forward in the NYISO interconnection process, enable RIC Energy to expand its portfolio, and provide local communities with greater access to clean, affordable energy.

Josh Herlands, Head of Sustainable Infrastructure at Rosemawr, also stated, “This investment fits well with our mission of providing flexible capital to further the energy transition and we are excited to be working with RIC to help further these projects.”

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