Distributed Solar Development has acquired a four-project, 3.9 megawatt community solar portfolio in Massachusetts. The four projects are currently under construction and will be among the first Massachusetts SMART program rooftop projects to reach commercial operation, which is expected later this year.
“Massachusetts’ growing community solar program demonstrates how states can successfully implement good policy to incentivize new project development while benefiting the local community,” said Jon Morton, VP of Acquisitions at DSD. “This acquisition fits well with DSD’s strategy to provide a reliable source of long-term capital for distributed solar projects.”
The four projects represent another successful transaction as part of DSD’s asset acquisition strategy. Each project will serve a single anchor customer for approximately 50% of capacity, with the balance serving a combination of smaller commercial, industrial, and residential customers.
PowerMarket, a community solar customer management platform, is managing the subscription and ongoing customer relationships for the projects.
“PowerMarket is excited to partner with Distributed Solar Development in supporting their growing community solar portfolio in Massachusetts and beyond,” said Jason Kaplan, COO at PowerMarket. “With our collective expertise in development, operations, and subscriber management, our teams will optimize the value of these community solar projects and deliver an unparalleled experience to all of those participating.”
— Solar Builder magazine