[SolarX] MIP6 Application: Uprets/SolarX: Industrial Real Estate-Backed Loans

That seems more the rate for seasoned debt. What we’re being offered is a good, solid rate, but not that drastic of a spread.

I cannot speak to Roolie’s comment in respect of PSEG’s interest in solar with any specific insight. However, NY is pushing aggressively into renewable energy, including solar.
https://www.nyserda.ny.gov/all-programs/programs/ny-sun

If I was to guess, I assume that PSEG concluded that other persons could develop and operate solar farms (which are not technically challenging vs offshore wind) and PSEG Long Island will simply buy the power.

Strongly support! It will open another door for MKR and Defi.

Strongly support!

Re: PSEG not interested in doing solar itself:

NY is a deregulated electricity market, which means that all power plants compete equally, whether owned by PSEG or a third-party. From https://callmepower.com/ny/market-liberalization:

To combat Vertical Monopolies, where utilities hold unfair advantage by controlling both the transmission and the generation of energy, COC required local utilities to deliver proposals on how they would cede some of their market power. For a lot of utility companies, this included divesting from energy generation facilities.

Currently LIPA doesn’t own any generation: Long Island Power Authority - Wikipedia

Adding my own observations: Solar PV Plants are a much more fragmented industry than traditional power plants, which required massive investments. Large utilities don’t want to deal with hundreds of permitting processes and construction projects. By signing a PPA with a third-party, they can avoid the messy parts of the process.