Written by: Leonard Parker | Solar News | 08th July
Community solar owner-operator Summit Ridge Energy (SRE) has acquired three projects in Maine from Cianbro. Two of the projects are currently under construction by Cianbro and are expected to be energized by the end of 2021. The third project will also be constructed by Cianbro and be energized by the end of 2022. In aggregate, the projects total 19.5 MW.
Under Maine’s Net Energy Bill, customers can reduce their monthly electricity expenditure by purchasing bill credits generated by community solar farms enabling households, businesses and municipalities to share in the savings generated from a single solar farm without incurring the cost of physically installing panels on their own premises.
“We’re looking forward to energizing the portfolio later this year and are excited to be partnering with Maine’s largest general contractor, Cianbro. The partnership will strengthen SRE’s on-the-ground presence and expand our footprint of community solar assets across the state,” says SRE Principal Jarryd Commerford. “2021 is expected to be a tremendous year for community solar deployment, and our team is proud to be providing clean energy and utility savings for local Mainers.”
“Since emerging as a viable option for customers, solar power has truly changed the energy market for both consumers and providers,” adds Andi Vigue, president and CEO of Cianbro. “Not only will this acquisition offer the people of central Maine a chance to lower electric costs, but it will also help leverage clean energy. We’re excited to be partnering with SRE to offer customers this simple way to support green energy.”
Once operational, the portfolio will generate clean power for approximately 3,500 Maine residents across CMP service territories. Aggregate savings on an annual basis for subscribed customers will total roughly $400,000.