Amalgamated Bank has joined a nearly $1 billion aggregate financing round supporting the development of the Cider Solar Farm, a 674 MW project by Greenbacker Renewable Energy Company. This marks a major boost for what will become New York’s largest solar farm, powering over 120,000 homes once operational.
Greenbacker and Hecate Energy Partner to Drive Clean Power Expansion
The Cider Solar Farm was acquired by Greenbacker from long-time partner Hecate Energy, a leading U.S. renewable energy and energy storage developer with over 43.7 GWac in its project pipeline. Initially, the two companies partnered to bring the Cider project through development, financing, and construction launch.
Construction Timeline and Expected Operation
Construction on the Cider Solar Farm began in November 2024, with full commercial operation expected by late 2026. Once online, the project is expected to generate enough clean energy to power more than 120,000 homes each year—making a significant contribution to New York’s climate and energy goals.
Greenbacker Begins Construction on New York’s Largest Solar Farm
Community Impact and Economic Benefits
Over its lifetime, the Cider Solar Farm is projected to inject approximately $100 million in tax revenue into the local community. These funds will support essential services, including:
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Local first responders
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Road infrastructure
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Libraries and schools
Project Location and Land Use
Located in the towns of Elba and East Oakfield, Genesee County, New York, the solar farm will span roughly 3,000 acres across non-contiguous sites. Despite its scale, the project will use less land than originally studied, minimizing its environmental footprint while maximizing energy production.
