04:16 PM EDT, 05/21/2025 (MT Newswires) -- Boralex ( BRLXF ) on Wednesday said it signed an agreement with the New York State Energy Research and Development Authority (NYSERDA) to provide renewable energy from two upcoming solar projects in upstate New York.

The deal allows NYSERDA to procure tier-1 renewable energy certificates from both the Fort Covington solar project and the Two Rivers solar project, which will together generate 450 megawatts of clean energy. Each certificate represents the environmental attributes of one megawatt-hour of electricity produced from a renewable source like solar power, the company said.

Permit applications for both projects are currently under review by the New York State Office of Renewable Energy Siting and Electric Transmission. Construction of both projects is set to begin in 2026, and they are expected to be commissioned in 2028, the company said.

The solar farms will generate enough electricity to power about 105,000 homes as well as 300 to 400 construction jobs, the company added.

Boralex ( BRLXF ) shares closed down $0.84 to $30.08 on the Toronto Stock Exchange.