Distributed Solar Development (DSD), a company specializing in development, structured finance, project acquisition, and long-term asset ownership, has acquired a 10 MW community solar portfolio with two projects in Lenox, NY
Both projects are floor-mounted and 75% were bought from a medium-sized development partner. DSD will oversee project management during the remainder of the construction work, which will be carried out by High Peaks Solar of Wynantskill, NY. The portfolio is expected to be completed by the end of January.
“High Peaks Solar is an experienced contractor in the PV industry and was the original greenfield developer for this portfolio,” says Derrik Fillippo, Senior Project Manager at DSD. “When construction is complete, community members will benefit from renewable energies and a lower energy bill.”
60 percent of the solar energy produced will benefit small commercial and private customers in and around Lenox, while the other 40 percent will be used by a large anchor manufacturer. Both projects are already 100% subscribed, with Blue Wave Solar managing subscriptions.