Solartech Renewables will receive over $5m in benefits from the Empire State Development and NYSERDA, $2m of which will come from a fund Assemblyman Kevin Cahill secured in the state budget for the purpose of bringing solar industries to the Hudson Valley. Solar Energy Consortium (TSEC) will provide an additional $600,000 from the federal government.
Solartech Renewables will produce silicon solar panels utilizing 15,000sqft of manufacturing floor space with the capacity for around-the-clock operations. Within the year, the company plans to meet an initial production capacity of 12MW, approximately 55,000 solar panels a year.
Solartech is targeting a market share in the Northeast of 3-5% of utility, large scale industrial and independent producers.
Dan Wieneke, president of TechCity Properties, said: “TechCity is very pleased to have the encouragement and support for our growth from Assemblyman Cahill, Congressman Maurice Hinchey, TSEC, NYSERDA, the Empire State Development and Ulster County.
“Welcoming a new tenant like Solartech Renewables strengthens our cluster concept of attracting green, sustainable companies that will benefit from their proximity to one another at TechCity.”
Mr Cahill, said: “Ulster County has the highest level of solar installed per capita in New York State. The market for solar power in the Northeast has been expanding at an amazing 40% per year, but most of the economic benefits have gone to foreign owned companies. With Solartech, I saw an opportunity to capitalize on that growth right here at home.”
