Renewable energy firm RIC Development LLC (RIC Energy) has partnered with investment company Rosemawr Management to finance interconnection deposits, paving the way for up to 450 MW of solar projects across Upstate New York.
Financing Boost for Solar Projects in Upstate NY
This financing addresses a key challenge that has slowed the development of solar and energy storage projects in Upstate New York.
“This investment fits well with our mission of providing flexible capital to advance the energy transition, and we are excited to be working with RIC to help bring these projects forward,” said Josh Herlands, Head of Sustainable Infrastructure at Rosemawr.
RIC Energy Partnership to Boost Clean Energy Access and Development
Through this partnership, RIC Energy will expand its project portfolio, accelerate progress within the NYISO interconnection queue, and enhance access to affordable, clean energy for local communities. The partners aim to bring these new capacities online within the next three years.
“We are pleased to partner with Rosemawr to support the build-out of 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,” said Jonathan Rappe, CEO of RIC Energy North America.
RIC Energy & Rosemawr: Driving Clean Energy and Sustainability
With a rich Spanish heritage and global expertise, RIC Energy has been at the forefront of renewable energy development since its founding in 2005. The company specializes in originating, developing, and owning multi-technology projects, including solar, hydrogen, wind, biogas, and battery storage.
For 20 years, RIC Energy has been dedicated to advancing the clean energy transition through innovative, efficient, and environmentally friendly solutions. Known for de-risking high-value projects, the company ensures projects are ready for construction, either by RIC Energy or its trusted partners.
Founded in 2008, Rosemawr is an investment management firm with over $1 billion in assets under management, specializing in the municipal, sustainable infrastructure, and charter school sectors. Its sustainable infrastructure portfolio features investments in solar, wind, energy storage, and energy efficiency projects nationwide.