In this edition of the Projects Weekly, we highlight SolarREIT’s development of a 39 MWac solar project in Pennsylvania. Plus, Louth Callan completes construction on a 30 MW project in Maine, and EDPR unveils three utility-scale projects with Microsoft as a major offtaker.
SolaREIT has completed a land purchase to support a 39 MWac solar project in Pennsylvania for Solops, a Denham Capital portfolio company.
“Access to affordable capital at the right time can determine a solar project’s success,” said Laura Pagliarulo, CEO of SolaREIT. “Our real estate financing solutions help developers maintain their momentum and bring more projects online.”
Cool factor: Solops is an independent power producer (IPP) of photovoltaic solar projects in the commercial and industrial sectors (C&I). The company has developed more than 3 GW of projects across 30 states and $2.1 billion in financing. The transaction, which closed in under 45 days, enables Solops to leverage the proceeds of the land purchase as a lower-cost alternative to traditional development capital for other projects in their pipeline.
SolaREIT provides financial solutions to developers and project owners that allow them to monetize land and lease value, free up capital, and reduce lease costs. In addition to land purchases, SolaREIT offers lease purchases, and solar and storage land loans, in all 50 states.
Louth Callan Renewables completes 30 MW Leeds Solar project in Maine
Louth Callan Renewables has wrapped up construction on the 30 MW Leeds Solar project in Maine. The project is part of the company’s broader strategy to expand its clean energy construction portfolio into larger utility-scale renewable energy infrastructure projects.
“This project underscores our dedication to delivering high-quality, sustainable energy infrastructure that benefits both the environment and local communities,” said Nicholas Sylvestre, managing member of Louth Callan Renewables.
Cool factor: The Leeds Solar project spans approximately 110 acres and brought significant economic benefits to the region, including the creation of 90 jobs during the construction phase and long-term operational roles. Additionally, it will generate tax revenue and lease payments, supporting the local economy.
EDPR delivers 3 utility-scale solar projects for Microsoft
EDP Renewables North America (EDPR NA) has completed three new utility-scale solar projects totaling 400 MW. Microsoft has agreed to purchase 389 MW of electricity and renewable energy credits (RECs) from the projects through long-term virtual power purchase agreements (VPPAs). The delivery of these projects brings the total operational portfolio to five projects between the two companies in the United States.
“The importance of ensuring benefits flowing from renewable energy development directly into communities has never been more important,” added Sandhya Ganapathy, CEO, EDP Renewables North America. “Through these three additional projects, we’re keeping our promise, and indeed the industry’s promise, to contribute to the nation’s growing energy demand and in that process invest in long-lasting economic growth of our communities.”
In Southern Illinois, EDPR NA commissioned the 140 MW Wolf Run Solar Project (Wolf Run) near Jacksonville and the 110 MW Hickory Solar Project (Hickory) near Jerseyville in November last year. The 150 MW Cattlemen II Solar Project (Cattlemen II) located near Austin, Texas, came online in December.
Cool factor: EDPR NA developed Hickory and Microsoft agreed to purchase electricity and RECs. Hickory uses an Environmental Justice PPA (EJ PPA) developed by Microsoft and Volt Energy Utility LLC, a minority-owned renewable energy developer focused on making clean energy investments in rural and urban communities disproportionately impacted by pollution and vulnerable to the impacts of climate change. With the EJ PPA, Hickory will contribute funding to enable Sharing the Power Foundation to offer financial assistance to organizations and causes that ensure equal access to clean air, water, and renewable energy, as well as offer availability to energy assistance programs; and opportunities to pursue workforce training in clean energy careers.
Wolf Run and Hickory have contributed $4.8 million to landowners, who lease a portion of their land to the projects, and millions of dollars to local governments through tax payments, ensuring critical services, schools, road maintenance, and other local initiatives are well-funded. The two Illinois projects created 500 construction jobs and five permanent jobs.
Cattlemen II in Texas will also contribute millions in taxes, benefiting the local school district and local government. The project created approximately 300 construction jobs and will support several permanent jobs in the area.
The operations of these three projects will continue to increase local spending, often seen by service providers, restaurants, hotels, and other retailers near the project communities, with more than $10.4 million spent to date during construction.
SolarBank makes progress on 14.4 MW projects in Skaneateles, N.Y.
SolarBank Corp. continues to develop two projects located on industrial brownfield sites in Skaneateles, New York, which is in the Finger Lakes Region of the state, in Onnodaga County. Following receipt of the necessary permits and financing, SolarBank intends to commence the construction of the projects. Once completed, each of the projects will be operated as a community solar project.
Cool factor: SolarBank intends to develop two ground-mount community solar projects across the site with a capacity of 14.4 MWdc. The projects have achieved a development milestone in receiving positive interconnection results via a completed Coordinated Electric System Interconnection Review (CESIR). Now that the company has received a positive interconnection determination, the next step is completing the permitting process for the projects, which is already underway. The projects are expected to be eligible for incentives under the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Program.
Tags: Community Solar, utility-scale
