Distributed Solar Development has agreed to acquire a nine-project, 41.5 MW community solar portfolio currently under development across New York and Maryland.
The portfolio includes six projects to be built in New York, which has become one the country’s hottest markets for community solar development. Three are set to be constructed in Maryland, which also features a strong community solar market.
For the New York portfolio, two projects will feature on-site energy storage, combining for more than 19 MWh of storage. Sixty percent of the energy generated by all six of the projects will go to residents and small businesses, while the remainder will go to commercial and industrial (C&I) offtakers.
Under New York state law, any projects that seek NY-Sun incentives must have at least 35% of their nameplate capacity dedicated to low- and middle-income (LMI) customers. The projects are expected to begin construction in Q1 2022 and reach commercial operation by the end of 2022.
In Maryland, the three acquired projects total 9.5 MWs with all of the off take going to residents and small businesses. The projects are currently under construction and expected to reach commercial operation by Q1 2022.
DSD will manage C&I customer acquisition for the New York locations, and Arcadia will be contracted for community solar mass market customer acquisition across the entire portfolio.
This is DSD’s second project portfolio acquisition in October. Earlier in the month, DSD acquired a portfolio of four community solar projects in New York – totaling 22.3 MW in capacity – from Source Renewables.
