Amalgamated Bank Joins Nearly $1 Billion Aggregate Financing with Greenbacker's 674 MW Cider Solar Farm, Powering New York's Largest Solar Project to Date

Core Insights - Amalgamated Bank has successfully closed a $15 million commitment as part of a nearly $1 billion financing for Greenbacker Renewable Energy Company's "Cider" solar farm, which is the largest solar project in New York State [1][2][3] Company Overview - Greenbacker Renewable Energy Company LLC focuses on acquiring and managing income-producing renewable energy projects, including solar and wind farms, and provides asset management services [5] - Amalgamated Bank is a mission-driven commercial bank based in New York, offering a range of banking products and services while emphasizing social responsibility and sustainable practices [6] Project Details - The Cider solar farm is located on approximately 2,500 acres in Genesee County, New York, and is expected to generate enough clean electricity to power over 120,000 homes annually by the end of 2026 [2][3] - The project is anticipated to create hundreds of clean energy jobs and is part of Greenbacker's commitment to building a resilient energy system in New York [3][4] Environmental Impact - Since 2016, Greenbacker's portfolio has produced over 12 million megawatt-hours of clean energy and has abated more than 8 million metric tons of carbon, highlighting its commitment to energy transition investments [4]