EDF Renewable Energy closes MIPSA on Lepomis Solar Project and commences construction
Tuesday, Oct 22, 2013
EDF Renewable Energy announces the close of the Membership Interest Purchase and Sale Agreement (MIPSA) and start of construction for the Lepomis Solar Project. EDF Renewable Energy and Sage Stone LLC, an international development and investment advisory company (www.sagestonellc.com), signed the MIPSA in July 2013.
“EDF Renewable Energy is pleased to deploy our solar development expertise in Massachusetts to help the Commonwealth achieve its ambitious goal of 1,600 MW of solar installations by 2020”
The 5.96 MWp ground-mount fixed tilt solar photovoltaic project is located in Plymouth, Massachusetts. The power generated will be delivered to the Town of Wareham, Massachusetts under a long-term Power Purchase Agreement, pursuant to the State’s Virtual Net Metering Credits Program. EDF Renewable Energy will develop, own and operate the solar project with commercial operation expected in Spring, 2014.
“EDF Renewable Energy is pleased to deploy our solar development expertise in Massachusetts to help the Commonwealth achieve its ambitious goal of 1,600 MW of solar installations by 2020,” said Jim Schretter, Vice President of Development for EDF Renewable Energy’s East Region. “The Lepomis project, the company’s first renewable energy asset to be built in Massachusetts, will deliver cost-competitive renewable energy and economic benefits to the host communities while enhancing our growing portfolio in the Northeast.”
EDF Renewable Energy has also executed an Engineering, Procurement, and Construction (EPC) contract with M+W U.S., Inc. Through an integrated approach, M+W US will contract with the recently acquired Gehrlicher Solar Americas Corp. (GSAC) to execute the implementation of the project.
Source: Business Wire