Distributed Solar Development (DSD) has acquired a three-project, 17 MW community solar portfolio from Source Renewables, a New York State developer focused on community solar assets. The three projects, one of which includes solar + storage, were developed by Source Renewables and are expected to reach commercial operation next summer.
“DSD was drawn to the Source Renewables team by their focused and disciplined approach to solar development, unique entrepreneurial strategy and capability for managing community solar assets once operational,” says Lauren Craft, director of asset acquisitions at DSD. “We’re looking forward to seeing more projects from the 85-MW pipeline that Source Renewables has under development.”
The three projects are slated to proceed with installation this winter, with Utah-based Mill Creek Engineering engaged for engineering, procurement, and construction. The portfolio comprises three separate New York State properties in Chautauqua, Oswego and St. Lawrence Counties. The Oswego County site is bolstered by up to 8,000 kWh of energy storage.
“We worked hard to ensure these projects earned the support of their respective communities, and DSD’s resources and talent will add to their long-term value,” said Andrew Day, partner at Source Renewables. “We’re looking forward to partnering on these projects and potentially others in the future.”
The project is supported by state funds and incentives from the New York State Energy Development and Research Authority, including the Value of Distributed Energy Resources and MW Block and Battery Energy Storage System incentive programs.
“These programs are invaluable as we partner to bring clean and reliable renewable energy online across New York State,” Craft said. “This will lead to savings and benefits across these communities for years to come.”
Source Power Company, a community solar customer management platform, is managing the subscription and ongoing customer relationships for the projects.
News item from Distributed Solar Development