Boston developer Bluewave ‘secures US$100 million’ from Morgan Stanley for community PV

Facebook
Twitter
LinkedIn
Reddit
Email
A community solar farm in Colorado. GTM Research has predicted that GTM predicts that the community solar sector in the US will grow 59% between 2014 and 2020. Image: Clean Energy Collective / Martifer Solar USA.

Bluewave, a Boston-based developer of solar projects, claimed that it has “secured US$100 million” for community solar from a subsidiary of multinational investment house Morgan Stanley.

The deal will see 25MW of Massachusetts community solar projects co-developed, invested in and jointly owned by Bluewave and Morgan Stanley’s MS Solar Solutions Corp, with the projects expected to come online during next year.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Community solar projects are developments in which individuals can buy shared memberships, giving them access to the environmental and economic benefits of solar even if their house or apartment is not suitable for hosting PV on the roof, or if they are tenants renting their home and cannot take the decision to go solar themselves. In a November blog for PV Tech, Amit Ronen, director of the GW Solar Institute and a professor at the Trachtenberg School of Public Policy at George Washington University, said that while there was a great deal of hype surrounding community solar that has yet to live up to its promise, that promise is certainly real.

Bluewave is on the verge of launching its community solar offering and is currently constructing solar PV plants in western and south-eastern Massachusetts.

“Morgan Stanley’s capital – and, importantly, its expertise – means that together we have the opportunity to expand quickly and strategically, not only in Massachusetts, but in other markets as well,” Craig Wetmore, Bluewave’s managing director said.

Morgan Stanley has not commented on the news.

Read Next

September 9, 2025
Nautilus and Summit Ridge Energy secured major financing deals to expand community solar projects across multiple US states.
September 8, 2025
ClearGen has entered into a US$150 million partnership with Davis Hill to build 245MW of community and commercial solar projects in the US.
August 27, 2025
The governor of New Jersey, Phil Murphy, has signed a new legislation that seeks to build 3GW of new community solar by 2029.
July 25, 2025
The US state of New York expects to install 35GW of solar PV and 9.4GW of battery energy storage system (BESS) by 2040.
July 25, 2025
Nautilus Solar Energy has entered a US$275 million tax equity partnership with Greenprint Capital to expand its US community solar portfolio.
June 18, 2025
Dimension Energy has secured US$360 million in financing to develop a 112MW portfolio of community solar projects across six US states.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines