Store chain Dollar Tree to source solar power in New York

US discount variety stores chain Dollar Tree Inc (NASDAQ:DLTR) has formed a partnership with DSD Renewables that will support the construction of seven community solar power plants in the state of New York with a combined capacity of 41.75 MW.

BlackRock Real Assets-backed DSD said in a statement that it will build the solar farms in East Syracuse, Cortland, Remsen, Medina, Silver Creek and Brier Hill, with Dollar Tree acting as an anchor tenant subscriber. More specifically, the latter will buy 16.67 MW of the total capacity in order to offset 29% of the energy needs across 184 Dollar Tree and Family Dollar stores in New York.

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DSD was selected to develop the projects in a competitive bidding process after NRG Energy assisted Dollar Tree in issuing a request for proposals (RfP). Two of the projects are already operational, while the remaining five are under construction. They are expected to be completed in stages starting this autumn.

The partnership aligns with Dollar Tree’s commitment from earlier this year to set a science-based Net Zero target by June 30, 2024.