ZPT Energy Solutions, a joint venture between Zero-Point Development. (“Zero-Point”), a leading solar project developer based in Rutland, Massachusetts, and Pro-Tech Energy Solutions (“Pro-Tech”), a leading energy services company headquartered in Moorestown, New Jersey, today announced the completion of the construction of a 31 MW (DC) solar energy portfolio comprised of nineteen projects spread across central and southeast Massachusetts.
The ZPT portfolio was financed by John Hancock Life Insurance Company (U.S.A) (“John Hancock”), 38 Degrees North, LLC and Tax Equity Advisors, LLC, reflecting an investment of greater than $100 million. The savings provided by the projects will generate $35mm of total savings to the subscribers in the projects over 25 years, and will offset 730,000 tons of CO2.
As part of the project implementation, Zero-Point and Pro-Tech jointly managed all site identification and development, engineering, procurement, and construction.
The projects participate in Massachusetts’ Community Shared Solar program and will sell Net Metering Credits to over 90 municipalities, public housing authorities, non-profits, homeowners, and businesses. The sites are located in Charlton, Dighton, Leicester, Millbury, Monson, North Brookfield, Phillipston, Southbridge, Spencer, and Uxbridge. The interconnecting utility for all 20 projects is National Grid.
“In completing development of this large and complex portfolio, we are very thankful for our strong network of partners across each community,” said Brendan Gove, CEO of Zero Point Development. “The team at Zero-Point all grew up in this area and we are focused exclusively on developing high quality solar projects for the region. We are excited to continue to develop high quality projects to participate in Massachusetts’ new SMART program, and continue building on our strong capital relationship with John Hancock and 38 Degrees North.”
“Since 2010, Pro-Tech has been a leading provider of engineering, procurement and construction services for the solar industry in Massachusetts,” said Guy Winters, Chief Operating Officer of Pro-Tech Energy Solutions. “It was exciting for our team to leverage that experience, and our relationship with Zero Point, to develop and build this exceptional portfolio and to provide tangible benefits to a multitude of constituencies within the Commonwealth of Massachusetts.”
“John Hancock is pleased to have partnered with 38 Degrees North to invest in the Community Shared Solar portfolio developed and built by ZPT in our home state,” said Scott Kushner, Managing Director at John Hancock. “We continue to see and seek solid investment opportunities in the growing renewable energy market.”
“Pro-Tech and Zero-Point have done an outstanding job fostering relationships around the region to assemble this high-quality portfolio,” said Jake Carney, Managing Partner at 38 Degrees North. “We have been impressed with the team’s resourcefulness to develop and construct the projects on time and on budget.”
Jonathan Silver from Tax Equity Advisors added, “Tax Equity Advisors invests in well-structured community and residential solar projects across the US. We were impressed by the portfolio Pro-Tech and Zero-Point put together and look forward to the opportunity to work with them again.”
