Summit Ridge Energy has begun construction in Maine on the first installation within a 13-project portfolio acquired from Revision Energy, totalling 44 MW in capacity.
The projects will operate under Maine’s NEB program, which allows customers to benefit from clean energy savings by offsetting their electrical bills with either owned or shared energy projects, like community solar, which, in turn, spurs further development of these assets within the state.
All of the projects developed under the portfolio are expected to reach commercial operation between 2022 and 2023. SRE will finance the projects via its dedicated funding platform with Osaka Gas US while Revision handles development, subscription, and construction of the portfolio.
In July, Summit Ridge entered into a joint venture with Osaka Gas USA Corporation to construct, own and operate over 120 MW of community solar projects throughout the state of Maine, with these projects representing the first leg of that commitment.
As for the electricity generated by the projects, Revision has subscribed a multitude of school districts, municipalities, hospitals, and local businesses.
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