New Energy Equity celebrated the completion of a 1.376-MW community solar garden located in St. Cloud, Minnesota. The company provided the upfront development financing and oversaw the installation of the solar array, letting the city pay no upfront costs on the project.
New Energy Equity will continue to work with nearby city Minnetonka, Cargill Incorporated and other local organizations across the state to promote the use of clean renewable energy. This project is expected to offset around 2,000 MWh per year, roughly equivalent to the annual energy usage of 160 households.
“Community solar gardens allow local organizations the opportunity to benefit from all that solar energy has to offer, including saving money on their utility bills, without having to take on the upfront costs of installation or host the project on-site”, said Matthew Hankey, New Energy Equity CEO and president. “The success of this solar garden will hopefully inspire surrounding municipalities and businesses in Minnesota to get involved and subscribe to similar solar projects.”
In the Midwest, New Energy Equity has completed more than 150 projects, totaling more than 185 MW.
News item from New Energy Equity