Solar project developer ReneSola Ltd. has picked up 20-year index renewable energy credit (REC) contracts for two solar projects in two states.
The New York State Energy Research and Development Authority has selected ReneSola Power’s 22 MW Roosevelt Solar project in Massena, N.Y., to be one of 22 projects as part of the state’s largest land-based renewable energy projects.
ReneSola Power was awarded a 20-year index REC contract as part of the state’s renewable program in an effort to reach New York’s goals to exceed 70% renewables by 2030 and zero emissions by 2040 as required by Climate Leadership and Community Protection Act.
In addition, the Illinois Commerce Commission has awarded a 20-year index REC contract to ReneSola Power’s 20 MW utility-scale solar project in Wilmington, Ill., as part of the state commitment to double investment in renewable energy towards its goal of 40% renewable energy by 2030 and 50% by 2040.
“We are very excited and honored that our two utility-scale solar projects in New York and Illinois were awarded REC contracts,” says Yumin Liu, ReneSola Power’s CEO. “The solar industry continues to benefit from the accelerating green energy transition to fight climate change. Our projects are in line with our environmental, social and governance practices, that is, not only will it contribute to state-level renewable energy targets, but it will also make an impact to the local communities by creating jobs.”