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DSD Acquires Nine-Project Community Solar Portfolio in NY and MD
SCHENECTADY, N.Y. — October 14, 2021 — Distributed Solar Development (DSD) has agreed to acquire a nine-project, 41.5 MW community solar portfolio across New York and Maryland. The projects, which are all currently under development, will produce a combined 59,279,990 kWh annually, enough to power more than 5,000 homes and offset over 42,000 metric tons of carbon dioxide each year.
“Helping local institutions and residents save money on energy bills, while also improving the environment, is a win-win for everyone involved.”
The six projects located in New York add up to 32 MWs of community solar capacity. Two of these projects will be bolstered with more than 19,700 kWh of energy storage. Sixty percent of the energy generated will go to residents and small businesses, while the remaining 40% will go to commercial and industrial (“C&I”) offtakers. The New York projects are expected to begin construction in Q1 2022 and reach commercial operation by the end of 2022.
The trio of Maryland projects total 9.5 MWs with 100% of the offtake going to residents and small businesses in the local communities. The projects are currently under construction and expected to reach commercial operation by Q1 2022.
“Our continued community solar expansion in both New York and Maryland is a result of our deep expertise and strong industry partnerships that enable the implementation and operation of clean, renewable energy in impactful ways across various regions,” says Andrew Thurston, Director of Asset Acquisitions at DSD. “Helping local institutions and residents save money on energy bills, while also improving the environment is a win-win for everyone involved.”
DSD will manage C&I customer acquisition for the New York locations, while Arcadia will be contracted for community solar mass market customer acquisition across the entire portfolio.
About DSD Renewables
DSD Renewables (DSD) is transforming the way organizations harness clean energy. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD 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 with a 120+ year legacy of innovation, our solar energy team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own and maintain. To learn more about our industry-leading solar energy solutions, visit dsdrenewables.com and be sure to connect with us on LinkedIn and Twitter.
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