SunEdison, solar technology manufacturer and solar energy services provider, and BlueWave Capital, a Boston-based solar energy development company, recently announced that SunEdison has agreed to purchase 50 MW of PV projects from BlueWave, the largest acquisition of solar assets in Massachusetts history.
The agreement includes 12 projects jointly developed by BlueWave and SunEdison across Massachusetts, many of which are expected to be operational by June 30th of this year and all of which have qualified under the Massachusetts SREC I or SREC II incentive programs.
“SunEdison and BlueWave Capital have partnered to lead the rapid development of solar photovoltaic systems across the Commonwealth, and have collectively been instrumental in helping to propel Massachusetts to the forefront of U.S. states in terms of installed solar capacity,” says Steve Raeder, SunEdison’s managing director of sales. “SunEdison’s financing capabilities coupled with BlueWave’s development expertise have allowed us to fast-track these projects, which in turn has expedited the delivery of environmental and financial benefits to our customers and the communities that are hosting these solar facilities.”
A BlueWave solar array in Rochester, Massachusetts
SunEdison and its financing partners will be the owner-operator of the projects and will sell the net metering credits generated by the systems to the city of New Bedford, the towns of Bourne, Palmer, Webster and Winthrop, several state colleges including Cape Cod Community College, Middlesex Community College, and the Massachusetts Maritime Academy, as well as a number of housing authorities including those serving Fall River, Plymouth, Fairhaven and Barnstable.
The electricity cost savings associated with the projects are estimated to total nearly $85 million over the next 20 years, and the CO2 reductions are expected to be the equivalent of taking approximately 150,000 cars off the road.
“Getting solar projects developed is not for the faint of heart, but a first-rate team has been able to do two things really well: one, efficiently permit and interconnect projects at favorable locations, and two, build trust with public officials who understand the benefits of these projects to their communities,” says John DeVillars, BlueWave managing principal.
Once operational, the solar arrays will be managed by the SunEdison Renewable Operation Center (ROC), which provides global 24/7 asset management, monitoring and reporting services. Data collected from the ROC is used to continuously improve the company’s products, project designs and service offerings.
Want more? Try these articles:
SunEdison Signs Purchase Agreement For Up To 1.85 GW Of NEXTracker Solar Trackers
Clean Energy Collective To Expand Community Solar Across Massachusetts
RBI Solar Completes 1.2-MW Project In Massachusetts
First Community-Owned Solar Facilities Deployed In Massachusetts