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DSD Acquires 3.9 MW Community Solar Portfolio [Press Release]
Four Rooftop Projects to be Among First from Massachusetts SMART Initiative to Reach Commercial Operation
SCHENECTADY, N.Y.—August 7, 2020—Distributed Solar Development has acquired a four-project, 3.9 MW community solar portfolio in Massachusetts. The four projects are currently under construction and will be among the first Massachusetts SMART program rooftop projects to reach commercial operation, which is expected later this year.
“Massachusetts’ growing community solar program demonstrates how states can successfully implement good policy to incentivize new project development while benefiting the local community,” said Jon Morton, VP of Acquisitions at DSD. “This acquisition fits well with DSD’s strategy to provide a reliable source of long-term capital for distributed solar projects.”
The four projects represent another successful transaction as part of DSD’s asset acquisition strategy. Each project will serve a single anchor customer for approximately 50% of capacity, with the balance serving a combination of smaller commercial, industrial, and residential customers.
PowerMarket, 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 calling 800-253-4333.
“PowerMarket is excited to partner with Distributed Solar Development in supporting their growing community solar portfolio in Massachusetts and beyond,” said Jason Kaplan, COO at PowerMarket. “With our collective expertise in development, operations, and subscriber management, our teams will optimize the value of these community solar projects and deliver an unparalleled experience to all of those participating.”
About DSD Renewables
DSD Renewables (DSD) is transforming the way organizations harness clean energy while building a more sustainable future. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD accelerates the deployment of renewable energy resources and creates significant value for our commercial, industrial, and municipal customers and partners. Backed by world-leading financial partners like BlackRock Real Assets and rooted in our founding at GE, our team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own, and maintain. To learn more, visit DSDRenewables.com and connect with us on LinkedIn, Twitter, and Facebook.
PowerMarket works to make clean energy more accessible and affordable through community solar. We are a recognized market leader in providing subscriber acquisition, management & billing services to the community solar industry, with now over 200 MW under management. Based in New York City, we manage over 20,000 subscribers—ensuring they are seeing electricity bill credits, savings and the environmental impact of their participation. Over the last three years, we have put over $600,000 back in the pockets of our community solar subscribers. We are an advocate for our subscribers and have rolled out many programs across the Northeast including with Low- and Moderate-Income (LMI) carve outs to ensure benefits are equally distributed to these communities. Learn more at powermarket.io.
Gregory FCA for Distributed Solar Development
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