BlueRock is developing and operating a portfolio of Community DG projects in NY, with a current pipeline of 20.0 MWdc. In 2017, BlueRock partnered with Renovus Solar, Inc. to develop and build the Renovus Rock, LLC project, a 646.0 kWdc project located in Millport, NY that has been operating since April 2017. BlueRock is now the sole owner of the project. NYGB has provided the Term Loan of $775,000, secured by the Renovus Rock, LLC project to support the development BlueRock’s Community DG portfolio in NYS.
This transaction is estimated to support the deployment of Community DG projects in the State which will provide commercial and residential project subscribers access to reliable, clean, low-cost energy. As there is increasingly strong demand for Community DG throughout NYS, growth of this asset class through the deployment of projects offers and requires participation by capital providers. Products like the Term Loan are expected to ultimately be offered by private capital providers in future to finance Community DG portfolios-at scale.