The funding for the solar projects is being made under the Authority’s NY-Sun initiative.

Commenting on the initiative, New York State Governor Andrew M. Cuomo said that the major investments being made are contributing to the state’s solar energy generation, by addressing climate change and increasing clean energy economy.

"Not only will these projects benefit our environment by reducing dependence on fossil fuels and using renewable energy, but they are also creating well-paying jobs for New Yorkers. These are necessary investments for a bright future in our state," added Cuomo.

The proposed installations will be located at businesses, factories, municipal buildings, colleges and other larger commercial and industrial companies and institutions in 26 counties across the state.

Some of the projects will become operational by the end of 2013, while the remaining are expected to be completed in the first half of 2014.

Meanwhile, the funding being made will leverage another $120m in private investment, resulting in around $174m in infrastructure projects.