A Toronto solar developer, and the Florida company that will buy the four arrays it builds in the towns of Orleans and Clayton, received financial support through a tax deal approved Thursday.
The Jefferson County Industrial Development Agency approved four payment-in-lieu-of-tax agreements for OYA Renewable’s projects, one agreement for each five-megawatt array, but all with the same terms. The agreements grant relief from paying property taxes to company OYA agreed to sell the arrays to, NextEra Energy Resources, for 15 years in exchange for less expensive annual payments to the affected taxing jurisdictions.
Jefferson County Legislator William W. Johnson, who serves on the JCIDA board of directors, said the agreements should abate what the company would pay in taxes after construction of the arrays, which would increase the value of the properties they were built on, by 44 percent over a 15-year-period.
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New York’s Clean Energy Economy Is Booming
Clean energy was a hot topic in New York on Friday, when Gov. Andrew M. Cuomo announced a planned expansion of the NY Green Bank and a state agency released a report showing that clean energy jobs employed 146,000 New Yorkers by the end of last year.
OYA Solar Secures $35 Million In Construction And Interconnection Financing From The NY Green Bank
OYA Solar announced today that it has successfully closed a $35 million construction and interconnection financing from NY Green Bank, a state-sponsored, specialized financial entity and division of NYSERDA.
OYA Solar And CoPower Close Refinancing Of Four Ontario Rooftop Solar Projects
Solar project developer OYA Solar and clean energy financier CoPower Inc are pleased to announce the closing of an agreement to refinance a portfolio of four solar projects located in Ontario totaling 1.3 MW.
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