BQ Energy is a Poughkeepsie, New York-based renewable energy project developer specializing in landfill and brownfield site redevelopment. NYGB’s US$1.1 million construction loan and term loan facility enabled BQ to complete a 0.87 MW project, to be constructed on a remediated landfill located in, and owned by, the Town which is in Ulster County. All Electric will construct the Project under a standardized balance of plant contract utilizing top tier panels, inverters, and racking systems. The Project will generate revenue by selling clean power (or, more specifically, selling the value of clean power evidenced by net metering credits) to the Town.
NYGB’s participation in the Project – and in similar future developments included in the proposed portfolio arrangement – will help expand financing opportunities for smaller (less than 10.0 MW) solar systems, by fostering standardization in the underwriting process (which is the process a lender uses to assess the creditworthiness or risk of a potential borrower) including a streamlined, uniform approach to integrating contractors, developing contracts, and utilizing standardized equipment.