DSD Renewables acquired a seven-project, 11.3 MW community solar portfolio, spanning six cities in Minnesota — its first move into Minnesota. DSD’s footprint of assets now covers 22 states.
Six of the sites will have 100% residential offtake and are expected to serve more than 600 residents, while the seventh project will have 100% commercial offtake. All seven projects are expected to generate 17,073 MWh of clean energy each year, avoiding 12,100 metric tons of carbon dioxide emissions annually.
“We are thrilled to be entering a new market with such a strong portfolio of community solar projects that will bring affordable renewable energy to a large swath of Minnesotans,” says Andrew Thurston, Director of Asset Acquisitions at DSD.
DSD will serve as the long term owner and operator of the sites, which are expected to be operational by Q2 2023. Common Energy will be handling customer acquisition and subscriptions for the portfolio.
“Minnesota’s community solar program is widely recognized as a leader in terms of installed capacity, and DSD looks forward to additional opportunities to streamline and expand that impact,” says Joe Rosenberg, Director of Business Development at DSD.
Community solar is a big reason Minnesota’s grid-connected solar capacity has increased nearly sevenfold in the last six years. Industry group Clean Energy Economy Minnesota expects renewable power production to increase from 2% of the state’s electricity in 2020 to 10% by 2030.
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