Rep. Torres Celebrates Completion of Community Solar Portfolio Spanning 70 Bronx Buildings

BRONX, NY — Today, Rep. Ritchie Torres (NY-15) joined Fieldston Power and Chestnut Holdings atop 2676 Grand Concourse in the Bronx to celebrate the completion and “powering on” of Fieldston Power’s first community distributed solar portfolio, spanning more than 70 multifamily properties across New York City.

The portfolio will benefit approximately 550 low-income New York households enrolled through the community solar program. Participating households will receive approximately 20% off the electricity supply portion of their monthly Con Edison bill through community solar subscriptions. The portfolio is projected to generate approximately 3.73 GWh of locally produced renewable electricity annually. Based on EPA equivalencies, that is expected to avoid approximately 2,600 metric tons of CO₂ emissions each year while reducing demand on New York City’s electric grid.

The ceremony brought together elected officials, public agencies, private-sector partners, and community stakeholders to mark the completion of the portfolio and to highlight how public policy and private investment are advancing building modernization across the Bronx. Fieldston Power demonstrates how Local Law 97 is helping catalyze new private-sector approaches to financing building decarbonization in rent-stabilized housing. Working alongside Chestnut Holdings, the company has developed a scalable model that combines infrastructure modernization, energy affordability, and long-term climate compliance while requiring no capital investment from participating property owners.

New York City’s buildings account for the majority of citywide greenhouse gas emissions. Local Law 97 was designed to accelerate emissions reductions by encouraging investment in building modernization and energy infrastructure. This project represents one of the earliest large-scale examples of how those policy goals are translating into real-world investment across Bronx multifamily housing. Through an energy tenancy model, Fieldston Power is helping building owners deploy rooftop solar, modernize aging infrastructure, and improve long-term building resiliency without requiring upfront capital investment.

The project also demonstrates how federal tax incentives, New York State energy programs, city policy, and private capital can work together with responsible housing ownership to make large-scale building decarbonization financially viable. It marks the successful completion of Fieldston Power’s first community distributed solar portfolio and comes alongside the announcement of the company’s next phase of growth, a $200 million development pipeline that will expand distributed energy infrastructure throughout New York City.

For the Bronx, the project serves as a tangible example of investment in existing housing stock. It shows how climate policy can drive infrastructure improvements that benefit building owners and residents alike while supporting broader environmental and economic development goals.

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