Investment firm gets 12-project East Coast solar portfolio from Agilitas Energy
- Agilitas Energy, a Northeast renewable energy developer as well as owner-operator, closed on the sale of a 16.8 MWdc solar PV portfolio to CarVal Investors. The portfolio is made up of 12 solar projects varying from land fill, ground-mount and also roof, located in New York, Massachusetts as well as New Hampshire. Most of the projects were established, crafted built and run by the Agilitas group within the past 4 years.
" The sale of these properties is strategically substantial for Agilitas Energy. It stands for further recognition by among one of the most well recognized institutional purchasers of our abilities to build quality projects," said Barrett Bilotta, president and co-founder of Agilitas Energy. "And we will reinvest the proceeds from the sale in a new generation of utility-scale solar and power storage projects in Massachusetts and New York that will catapult Agilitas to a new degree."
The projects all have power acquisition arrangements or internet metering credit score agreements for at least 20 years, with high credit scores off-takers such as districts, energy business, and universities.
The profits from the sale will certainly help accelerate the advancement of Agilitas's newest portfolio, which is included about 44 MWdc in solar PV and 34 MW/113 MWh of energy storage under the Value of Distributed Energy Resources and SMART reward programs in New York as well as Massachusetts, targeting business operations within the next two years. The CarVal transaction will allow Agilitas step up its efforts in solar and also energy storage advancement and remain to provide regular worth to off-takers, landowners, regional neighborhoods and also numerous stakeholders in the renewable resource eco-system.
" CarVal Investors is pleased to companion with Agilitas Energy on this cutting-edge project," stated Jerry Keefe, principal, CarVal Investors. "We are especially thrilled regarding the excellent quality of the properties in this portfolio as well as the lasting arrangements they have in place."