Nexamp and Cathartes Private Investments are joining forces to build the largest privately-owned solar project in Massachusetts. The 4.5MW system will be comprised of 14,000 panels and span 22 acres of industrial land bordering Route 3 near Westford. Nexamp will manage the site and construction is scheduled to begin this autumn.
Cambridge Savings Bank is providing the lion’s share of funding for the US$23 million development, with Middlesex Bank also contributing. The project also received a US$5.8 million bond from the state as part of its Green Communities Act.
The Green Communities Act is part of the renewable energy drive Massachusetts has made in the past few years; the state hopes to install 250MW of solar capacity by 2017 and estimates that there will already be 92MW connected or in the pipeline by the end of the year.
“Massachusetts spends approximately US$22 billion annually on energy, of which US$18 billion leaves the state and the country,” said Mark Sylvia, commissioner of the state’s Department of Energy Resources. “Renewable projects offer the opportunity to reduce this trend – creating local jobs and reclaiming economic opportunity while reducing greenhouse gas emissions.”
Cathartes will receive solar renewable energy certificates to sell to utilities and other suppliers, and National Grid will connect the facility to its distribution system.