Distributed Solar Development acquires 2 under-construction community solar projects

Distributed Solar Development (DSD) has acquired a two-project, 10-MW community solar portfolio in Lenox, New York.

“This acquisition materially increases DSD’s New York community solar portfolio, which the company will continue to expand in 2021,” said Jon Morton, VP of acquisitions at DSD.

Both projects are ground-mounted and were purchased 75% complete from a mid-stage development partner. DSD will oversee project management through the rest of the construction, which is being done by High Peaks Solar of Wynantskill. The portfolio is projected to be complete by the end of January.

“Our company would like to thank all of the hard-working men and women who saw this project become a success during a difficult year. This project is the largest we have completed to date,” said Kevin Bailey, CEO of High Peaks Solar.

From the solar produced, 60% will benefit small commercial and residential customers in and around Lenox, while the other 40% will be harnessed by a large anchor offtaker. Both projects are already 100% subscribed, with Blue Wave Solar managing subscriptions.

“High Peaks Solar is an experienced contractor in the PV industry and was the original greenfield developer for this portfolio,” said Derrik Fillippo, senior project manager at DSD. “When construction is complete, members of the community will benefit from clean, renewable energy and a smaller energy bill.”

News item from Distributed Solar Development

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Original Source: https://www.solarpowerworldonline.com/2021/01/distributed-solar-development-acquires-under-construction-community-solar-projects/