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Kyocera to Invest in $38 Million of New York Solar Plants

April 21 (Bloomberg) -- Kyocera Corp. will invest in a tax equity partnership to develop $38 million in New York solar projects and signed a deal for U.S. Light Energy LLC to use its panels on all installations.

Kyocera and U.S. Light, based in Latham, New York, expect to install 9.4 megawatts of projects by the end of June, the Kyoto-based electronics manufacturer said today in a statement.

An equity partnership reduces upfront costs for developers by letting a project investor benefit from a 30 percent federal investment tax credit. The subsidy is scheduled to expire in 2016.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Tina Davis, Stephen Cunningham

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