Amalgamated Bank backs Cider solar project in New York

Amalgamated Bank, a subsidiary of Amalgamated Financial Corp., has committed $15 million toward financing Greenbacker Renewable Energy Company LLC’s Cider solar project. The solar project is located in New York and is planned as the state’s largest utility-scale solar farm at 674 MW DC capacity. Construction on the Cider solar project began in late 2024, and major works were underway by spring 2025 with completion targeted by end of 2026. According to Greenbacker, the PV facility is expected to power over 120,000 homes annually and create hundreds of construction jobs, supporting local employment. Greenbacker is headquartered in New York and has produced over 12 million MWh of clean energy since 2016 and has offset more than 8 million metric tons of carbon emissions through its national clean energy portfolio.