OYA Solar secures USD 35m for US project development

January 20 (Renewables Now) – Toronto-based photo voltaic venture developer and energy producer OYA Photo voltaic mentioned this week that it has raised further capital and thus raised its complete company funding to USD 35 million (EUR 31m).

This newest transaction was led by an affiliated fund of Greenbacker Capital Administration LLC, with participation from further traders akin to Lewis & Clark Holdings and entities managed by abrdn plc.

OYA is a developer, builder and proprietor of neighborhood and conventional utility-scale photo voltaic and battery storage crops. Since its inception in 2009, the agency has developed 1,440 MW of photo voltaic in each Canada and the US and final yr made the transition from photo voltaic developer to asset proprietor.

In keeping with founder and CEO Manish Nayar, OYA is now targeted on attaining its objective to position 500 MW of direct present (DC) photo voltaic capability in operation by 2024. Its present pipeline exceeds 3 GW, with initiatives throughout the Northeast and mid-Atlantic. Proceeds from the newest funding shall be used to speed up the event of those initiatives and for acquisitions.

(USD 1.0 = EUR 0.882)

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