Renewable Properties, a developer and investor in small-scale utility and group photo voltaic initiatives, shall be including over 42 MW of Maine group photo voltaic, by way of NextGrid in three tranches. This provides to Renewable Properties’ rising pipeline of group photo voltaic initiatives throughout the US. Within the Northeast, the corporate already owns initiatives in New York and Massachusetts and is creating initiatives in New Jersey, Connecticut, and Pennsylvania.
The entire NextGrid acquisitions are collaborating in Maine’s web power billing (NEB) program, which permits residential, business, municipal, and industrial clients to offset their electrical energy payments with the power generated from renewable power initiatives positioned inside their utility service territory. Because the NEB program and different favorable photo voltaic insurance policies had been launched in 2019, photo voltaic producing capability in Maine has surged by 300%.
“We’re excited to assist Maine increase its power market with group photo voltaic, which will increase entry to native clear power and its many advantages,” mentioned Aaron Halimi, Founder & CEO of Renewable Properties. “With these initiatives, native properties and companies will save on their electrical energy payments, no matter whether or not they lease or personal their roof with no cash down. We’re enthusiastic about partnering with NextGrid on this portfolio of initiatives and look ahead to constructing our long-standing working relationship.”
Since 2019, Renewable Properties has acquired over 100 MWs of photo voltaic initiatives which might be presently in varied levels of growth, leveraging Renewable Properties’ versatile capital and growth acumen to construction acquisitions at any level of the venture life cycle.
Portfolio overview
The operational initiatives within the preliminary portfolio tranche complete 18.63 MW. They embody two within the city of Lewiston, one in Poland, and one in Waterville.
- The Lewiston initiatives, totaling 7.5 MW with 1,233 subscribers, have been operational since Sept. 1, 2022.
- The 5.56 MW Poland venture got here on-line on Dec. 23, 2021 and now has 1,081 subscribers.
- The 5.55 MW Waterville venture got here on-line on March 16, 2022 with 780 subscribers.
Two initiatives of 5.4 MW every are underneath building in Bangor and Howland. The initiatives, scheduled to return on-line by finish of Q2 2023, will generate sufficient clear power to energy roughly 1,202 properties.
One other three initiatives, totaling 12.6 MW, are scheduled to start building in Q1 of 2023, with anticipated completion in December 2023. The initiatives, in Bangor, Winslow, and Manchester, will generate sufficient photo voltaic to energy 1,257 properties.
“With these acquisitions, Renewable Properties continues to point out its dedication to group photo voltaic in Maine,” mentioned Aaron Culig, President of NextGrid. “We had been happy to companion with Renewable Properties for this third acquisition and look ahead to constructing on our profitable working relationship.”
Along with the NextGrid portfolio acquisitions, Renewable Properties is individually creating a 2.8MW venture in Skowhegan and one other 2.8 MW venture in Orono.
Have you ever checked out our YouTube web page?
We now have a ton video interviews and extra content material on our YouTube web page. Not too long ago we debuted Power Forward! — a collaboration with BayWa r.e. to debate greater degree trade subjects in addition to finest practices / traits for working a photo voltaic enterprise right now.
Our longer working facet venture is The Pitch — wherein we’ve awkward discussions with photo voltaic producers and suppliers about their new know-how and concepts in order that you do not have to. We focus on every part from residential rail-less deck attaching and home solar financing to large-scale energy storage value stacking and utility-driven new dwelling solar + storage microgrids.
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