Agilitas Energy, the largest integrated developer, builder, owner and operator of distributed energy storage and solar photovoltaic (PV) systems in the northeastern U.S., today (June 23) announced significant milestones for two Solar Massachusetts Renewable Target (SMART) projects in its pipeline that will help accelerate the Bay State's transition to renewable energy.
Located in Auburn and Hopkinton, both projects are classified as Community Solar Programs, will participate in ISO-New England markets, and generate Massachusetts Clean Peak Certificates. Agilitas Energy is one of the largest Massachusetts SMART program developers and these projects give the company a SMART project portfolio of seven ongoing projects with 52 megawatts (MW) of solar PV and 27 MW/81 megawatt hours (MWh) of energy storage.
The company completed the construction of its largest utility-scale, coupled solar PV and battery energy storage system in Auburn, MA. Now in commercial operation, the project consists of a 7.3 MW direct current (DC) solar array and a 3.6 MW/9.5 MWh energy storage system. It will give local consumers the benefit of lower-cost electricity and power more than 1,200 Massachusetts homes annually. Several hundred organizations have signed long-term power purchase agreements that guarantee energy savings for the next two decades.
Agilitas Energy has also acquired a construction-ready, front-of-the-meter PV and energy storage project in Hopkinton, MA that will serve Eversource with a 5.8 MW DC solar array and 4 MW/9 MWh of storage capacity. As part of the project, Agilitas Energy will set aside more than 45 acres of open space for permanent conservation, and will donate more than $10,000 for the construction of a parking area to support access to the trail network on site.
"Programs like SMART make a noticeable difference in empowering cost-effective solar development, and we're confident these projects will help bring predictable, low-cost, clean energy to the communities that need it - other states should look to replicate what Massachusetts has done," said Barrett Bilotta, President of Agilitas Energy. "Along those lines, we're proud of the solar and storage projects we've built in our home state and across New England, and with our recent capital raise, we're looking to replicate our success with utilities and municipalities throughout the U.S."
The company recently raised $350 million of equity in a two-tiered investment from CarVal Investors L.P., financing that will fund a national build-out of Agilitas Energy's large pipeline of renewable energy and battery storage systems.
Agilitas Energy is actively constructing or developing several other coupled solar PV and energy storage projects under the SMART program in various towns across the Commonwealth and is currently seeking projects at all stages of development across the country. To inquire about how Agilitas Energy can deliver an energy solution or serve as a partner on a project, please visit https://agilitasenergy.com/contact/.
About Agilitas Energy
Agilitas Energy is a leading renewables and energy storage company with a mission to accelerate the transition to clean energy. As the largest integrated developer, builder, owner and operator of distributed energy storage and solar PV systems in the northeastern U.S., Agilitas Energy manages the entire end-to-end lifecycle of the projects that deliver predictable, low-cost, clean energy for off-takers, utilities and municipalities. The company has a U.S. pipeline of more than 500 MW of solar PV and energy storage projects. To learn more, please visit: https://agilitasenergy.com/.
Contacts
Liam Sullivan on behalf of Agilitas Energy
V2 Communications
agilitas@v2comms.com
