... Distributed Solar Development buys 17 MW community solar portfolio in New York | Solar Builder
 

Distributed Solar Development buys 17 MW community solar portfolio in New York

solar company acquisition

Distributed Solar Development (DSD) has acquired a three-project, 17-MW community solar 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 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.”

Project details: The three 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).

“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.”

Funding: The project is supported by state funds and 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.”

Management: 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.

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