Standard Solar has expanded its community solar portfolio in Rhode Island by acquiring a 4.9 MW project from Freepoint Solar LLC.
The Woodville ground-mounted community solar project in Richmond, Rhode Island, was developed by Freepoint Solar. The array is expected to produce 7,700 MWh of energy annually.
Following the acquisition, Standard Solar will be the project’s long-term owner and operator. The array will provide customers with locally produced clean energy and help meet the state’s goal of transitioning to 100% renewable energy by 2030, as mandated in 2020. The community solar project, part of Rhode Island’s Renewable Energy Growth Program, will allow customers in the state to benefit from clean energy savings by offsetting their electricity bills with solar energy.
This community solar project comes at a time of rising electricity prices across the country, with Rhode Island having some of the highest rates in the nation.
“Providing much-needed relief from rising energy costs to customers is critical to furthering the clean energy economy, and collaborating with partners like Freepoint Solar brings us a step closer to that goal,” said Harry Benson, director of business development, Standard Solar. “This project, which will serve hundreds in the community, plays a significant part in transitioning Rhode Island into a 100% renewable energy state and will help reach its goal of being the first state in the nation to do this by 2030.”
In addition to accelerating the state’s clean energy supply, the Woodville project will generate new long-term investment, savings and job growth opportunities across the economy.
Freepoint Solar managing director Peter Ford said the company “continues to look for opportunities in New England to support the region’s transition toward a renewable future.”
Tags: Community Solar, Freepoint Solar, mergers and acquisitions, Residential Solar, Standard Solar
