Syncarpha Capital developing 74-MW community solar project portfolio in Maine
Syncarpha Capital, a full-service solar energy developer, owner and operator of community solar parks, and Pacolet Milliken, a family-owned company with roots in Maine, expects to build about 74 MW of solar power in the state.
This portfolio consists of 11 projects across the state and includes projects in Augusta, Belfast, Corinna, Edgecomb, Old Town, Pittsfield, Readfield, Troy, Wiscasset and Waldoboro, some of which will be groundbreaking this summer. These projects will be connected to the local electrical distribution systems.
Central Maine Power residential customers who sign up with Syncarpha are guaranteed to save on their electricity bills. In addition, certain projects will allow commercial and industrial customers to participate, who will also see guaranteed savings on their electricity bills.
As the expansion of Syncarpha and Pacolet Milliken in Maine unfolds, additional projects are currently in the permit process and Syncarpha hopes construction can begin later in 2021 or early 2022.
Syncarpha’s 7 MW project in Old Town will lease land from the city to build an array at Dewitt Airfield. This land, which is currently vacant, unused, untaxed and has little agricultural value, will be a stream of rental income for the city for the next 20 years.
In Readfield, Syncarpha and a property owner have entered into an unusual agreement whereby the owner will conserve approximately 75 acres of 95 acres. The remaining area is leased to Syncarpha for the construction and operation of a communal solar park.
The energy generated by this array benefits households in the same utility “charging zone”, so the country is not subject to continuous commercial development. After the solar park’s operational life, the equipment will be removed and the part used for solar energy will also be put into conservation.
Syncarpha has bought rocky land next to a highway in Augusta to build a solar park, but will not develop the whole lot. The project will donate approximately 10 acres of forest to the Sportsman’s Alliance of Maine, the largest sportsman organization, for the alliance’s outdoor education center.
Land arrangements such as these will help Maine achieve its Renewable Portfolio Standard goal of getting 100% of its energy from renewable sources by 2050.
News item from Syncarpha Capital