A new strategic partnership between global renewable energy developer RIC Energy and investment firm Rosemawr Management is set to unlock up to 450 megawatts of solar projects across Upstate New York. The collaboration provides crucial financing for interconnection deposits, directly addressing a key bottleneck that has historically slowed the development of clean energy projects in the region.
This financial injection will enable RIC Energy to accelerate its project pipeline within the New York Independent System Operator (NYISO) interconnection queue, with a target of bringing the new solar capacity online within the next three years. The partnership aims to significantly enhance access to affordable, clean energy for local communities and businesses.
Jonathan Rappe, CEO of RIC Energy North America, highlighted the profound local impact of the agreement. “We are pleased to partner with Rosemawr to support the build-out of the power grid in Upstate New York,” he stated. “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.”
Echoing this sentiment, Josh Herlands, Head of Sustainable Infrastructure at Rosemawr, emphasized the alignment with his firm’s objectives. “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,” Herlands said.
Founded in 2005, RIC Energy has a Spanish heritage and extensive global expertise in originating, developing, and owning multi-technology projects, including a portfolio exceeding 20,000 MW in solar, battery storage, wind, and green hydrogen. The company specializes in de-risking high-value projects to ensure they are ready for construction.
Rosemawr, established in 2008, is an investment management firm with over $1 billion in assets. It has a dedicated focus on the municipal, charter school, and sustainable infrastructure sectors, with a portfolio that includes investments in solar, wind, and energy efficiency projects across the nation.
Sources for RIC Energy, Rosemawr Partner to Advance 450MW Solar Projects
- Battery Energy Storage | Reliable Grid Solutions
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