Generate’s Tangent program consists initially of a portfolio of 88 rooftop solar systems totaling 17MW, installed atop New York City municipal buildings across all 5 boroughs, including 66 schools. Generate acquired the portfolio from Tangent Energy Solutions in mid-2017. We expect construction to commence in 3Q17, and for the assets to begin commercial operation on a rolling basis starting January 2018. The City is the counterparty to the attractive 20-year off-take agreement covering all sites, which are also eligible for state-level incentives through NYSERDA.
- $55.5M total investment
- 17% levered after-tax IRR
- 5-year payback
