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DSD Acquires 17 MW Community Solar Portfolio in New York from Source Renewables
SCHENECTADY, N.Y. — December 1, 2020 — Distributed Solar Development (DSD) has acquired a three-project, 17 MW community solar energy portfolio from Source Renewables, a New York State developer focused on community solar assets. The three projects, one of which includes solar and storage, were developed by Source Renewables from greenfield, and are expected to reach commercial solar 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.”
These three clean energy solar 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 service (ESS).
“These programs are invaluable as we partner to bring clean and reliable renewable energy online across New York State…”
“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,” says 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 solar incentives from the New York State Energy Development and Research Authority (NYSERDA), including the VDER (Value of Distributed Energy Resources), and MW Block and BESS (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,” says Craft. “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. Potential customers interested in participating can join by visiting sourcepowerco.com.
About DSD Renewables
DSD Renewables (DSD) is a renewable energy solutions platform enabling a more sustainable future by deploying and operating renewable energy solutions, making solar, storage, and EV charging infrastructure more accessible to commercial, industrial, and municipal partners. With in-house expertise, a broad scope of capabilities, and the proprietary DSD Connect Platform, our team provides resources to industry partners and customers across the US, accelerating the deployment and scale of renewable energy to meet aggressive sustainability and net-zero goals. To learn more, visit DSDRenewables.com and connect with us on LinkedIn, Instagram, and Facebook.
About Source Renewables
Source Renewables is a vertically-integrated renewable energy company focused on the development and financing of distributed solar generation and energy storage projects throughout New York. Source Renewables’ subsidiary, Source Power Company is a regulated Energy Service Company and Distributed Energy Resource Supplier. Source pairs retail energy supply with customer management for community distributed generation projects. Source’s innovative approach provides savings for retail customers and enhances returns for its development partners. Source’s unique and creative solutions will help New York meet its renewable energy goals to reduce the local effects of climate change.
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