Nexamp announced it has partnered with Fuyo General Lease USA to deploy more than 350 MW of distributed solar power generation projects in Illinois and New York, bringing both states closer to their carbon-free power goals.
Fuyo General Lease USA is the U.S. branch of Fuyo General Lease Co., Ltd. of Japan. The company will finance the solar portfolio to be developed by Nexamp. The portfolio, which will mostly be in Illinois, is expected to help reduce the cost of electricity for more 10,000 households within ComEd and Ameren’s electricity service area.
The average size of the projects will be in the 5 MW to 7 MW range, Keith Hevenor, Nexamp communication manager told pv magazine USA. He noted that construction on the earliest projects will begin immediately, and the rest will start next year with completion dates to begin in late 2025 and run until 2027 at the latest.
These projects will also accelerate Nexamp’s workforce development initiatives, in line with both states’ commitment to developing a workforce for an electrified future. The construction, operation and management of the solar projects associated with this investment will create approximately 3,000 jobs across Illinois and New York and provide employment opportunities for participants in Nexamp’s new fellowship program.
Nexamp is working to make all projects eligible for the domestic content adder, Hevenor told pv magazine USA.
Nexamp CEO Zaid Ashai explains, ‘’The increasing pace at which we are deploying new solar generating assets reflects the urgency of the current energy crisis and the need for solutions that make our grid more sustainable and more resilient. This investment allows us to continue that work and will make the many benefits of solar more widely available to Illinois residents and small businesses.”
Nexamp, headquartered in Chicago, Ill., has more than 1 GW of renewable energy-generating assets currently in operation or under construction.
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