AUBURN, Mass., Aug. 25, 2020 /PRNewswire-PRWeb/ -- Agilitas Energy, a leading energy developer headquartered in Wakefield MA with a robust portfolio across Massachusetts, New York and New Hampshire, recently commenced construction of its latest utility-scale solar photovoltaic project under the Solar Massachusetts Renewable Target (SMART) Program in the Town of Auburn, Massachusetts.
Agilitas acquired this construction-ready solar PV project in March this year, which is situated on a 124.7-acre site in Auburn MA and will generate enough electricity to power more than 1,200 Massachusetts homes per year. "Agilitas has a win-win opportunity to help Massachusetts meet its renewable energy goals while helping local businesses reduce their energy costs. And these projects fit perfectly with Agilitas' core competencies and mission," says Barrett Bilotta, President of Agilitas Energy.
The SMART Program is the latest long-term sustainable solar incentive program that promotes cost-effective solar development in Massachusetts, sponsored by the three investor-owned utility companies in the Commonwealth: Eversource, National Grid and Unitil. With SMART, the Massachusetts energy portfolio will add 3,200 MW in solar capacity, bringing the total solar capacity to meet 13% of the state's annual electricity needs.
The Agilitas Auburn project will be classed as Community Solar, giving local energy consumers the benefit of lower-cost electricity. A local community hospital is the largest among several hundred organizations to sign up long-term Power Purchase agreements which will guarantee them energy savings for the next two decades. Ampion Energy will be supporting the subscribers of this Community Solar program, ensuring that they enjoy the benefits of renewable energy and guaranteed savings over the contract period. "Community Solar is one the easiest ways to save money on electricity and comes with the added benefit of supporting the transition to clean energy." said Nate Owen, CEO of Ampion. "Customers like Sturdy Memorial Hospital recognize that this is a choice that can impact their bottom line and we're thrilled to support access to the many regional businesses and local residents who qualify for this Massachusetts state program."
After closing the acquisition transaction, Agilitas quickly secured its financing with 1st Source Bank who will provide construction loan, tax equity and permanent financing for the Project. Agilitas' experienced in-house EPC team will oversee the full engineering, procurement and construction phases of the project, to optimize the design and to build with the highest institutional standards.
The project is expected to be mechanically complete in Q4 2020 and to start commercial operations in Q2 next year. "We're pleased to partner with Agilitas Energy on this project, and to finance another solar energy facility for the communities of Massachusetts," states Russell Cramer, VP, Solar Financing. "At 1st Source Bank, we believe in helping our clients realize their dreams. If that dream is a sustainable energy source to better their communities, then we are proud to provide the financing to make it a reality."
In addition to this Auburn project, Agilitas is actively developing new SMART projects, some of which will also include battery energy storage systems to provide peak shaving capabilities for the power grid, and potentially deploy community solar arrangements as well, to bring additional cost benefits to the local township, businesses, and residents.
Agilitas Energy is a leading commercial solar and energy storage developer and owner / operator in the Northeast. The Company is expert in the full cycle of development, construction, and distribution of utility-scale energy projects. The Agilitas team has developed and/or built over 100 MW of solar PV systems since 2014 and is actively developing multiple solar PV and energy storage projects in the Northeast. Agilitas invests in energy projects at various stages, from inception to full entitlement to commercial operation.
More information can be found at: http://www.agilitasenergy.com
SOURCE Agilitas Energy LLC