Summit Ridge Energy has begun construction in Maine of the first facility in a portfolio of 13 projects acquired from Revision Energy, with a total capacity of 44 MW.
The projects will operate as part of Maine’s NEB program, which enables customers to benefit from clean energy savings by offsetting their electricity bills with owned or shared energy projects, such as community solar, which at in turn, stimulates the development of these assets within the state.
All projects developed under the portfolio are expected to reach commercial exploitation between 2022 and 2023. SRE will finance the projects through its dedicated financing platform with Osaka Gas US while Revision takes care of the development, subscription, and portfolio construction.
In July, Summit Ridge entered into a joint venture with Osaka Gas USA Corporation to build, own and operate more than 120 MW of community solar projects throughout the state of Maine, with these projects being the first step in that commitment.
As for the electricity produced by the projects, Revision has underwritten a multitude of school districts, municipalities, hospitals and local businesses.
This content is protected by copyright and cannot be reused. If you would like to cooperate with us and would like to reuse some of our content, please contact: [email protected]