SCHENECTADY, N.Y.--(BUSINESS WIRE)--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,” says Jon Morton, Vice President 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 construction, which is being done by High Peaks Solar of Wynantskill, N.Y. The portfolio is projected to be complete by the end of January.
Kevin Bailey, CEO of High Peaks Solar, says, “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.”
“High Peaks Solar is an experienced contractor in the PV industry and was the original greenfield developer for this portfolio,” says DSD Senior Project Manager Derrik Fillippo, who has been working with High Peaks on finishing the projects. “When construction is complete, members of the community will benefit from clean, renewable energy and a smaller energy bill.”
Sixty percent of the solar produced 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.
About Distributed Solar Development
Distributed Solar Development (DSD) is transforming the way organizations harness clean energy. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD creates significant value for our commercial, industrial and municipal customers and partners. Backed by world-leading financial partners like BlackRock Real Assets and rooted in our founding at GE with a 120+ year legacy of innovation, our team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own and maintain. To learn more, visit dsdrenewables.com. Connect with us on LinkedIn and Twitter.
About High Peaks Solar, LLC
High Peaks Solar is a solar construction company; developing and building solar projects since 2008. The company is dedicated to high quality installations that will produce electricity for many decades. Founded on a basis of integrity and hard work, High Peaks Solar has committed its mission to increasing the spread of renewable energy across the globe. For more information, please visit www.highpeakssolar.com or connect with us on Facebook (High Peaks Solar).
