Distributed Solar Development (DSD), a company that specializes in development, structured financing, project acquisition and long-term asset ownership, has acquired a two-project, 10 MW community solar portfolio in Lenox, N.Y.
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.
“High Peaks Solar is an experienced contractor in the PV industry and was the original greenfield developer for this portfolio,” says Derrik Fillippo senior project manager at DSD. “When construction is complete, members of the community will benefit from 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.
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