In March 2021, NY Green Bank provided an 18-month senior secured $10.0 million bridge loan facility to Amp Solar Group Inc. Bridge Loan proceeds will finance project interconnection advance payments to National Grid and Rochester Gas and Electric Corporate for community distributed generation (“CDG”) solar projects.
AMP is developing a portfolio of CDG solar projects in NYS and requested that NYGB provide a $10.0 million Bridge Loan to finance interconnection advance deposits due to NG and RG&E under the New York State Public Service Commission Standardized Interconnection Requirements and Application Process.
