Standard Solar Expands Footprint in Rhode Island with Acquisition of 4.9 MW Community Solar Project from Freepoint Solar; Moves State Closer to 100 Percent Renewable Goal

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Standard Solar , a recognized leader in the development, funding, ownership and operation of commercial and community solar assets, continues to expand its community solar portfolio in Rhode Island with the acquisition of a 4.9 megawatt (MW) project from Freepoint Solar LLC.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, January 10, 2023
Information
Tags: 
Environment, Utilities, Alternative Energy, Green Technology, Environmental Health, Energy, Carbon, Acquisition, Business development, Electricity, Coal, Standard solar model, RI, Solar energy, Renewable energy
Geotags: 
RHODE ISLAND, MARYLAND, UNITED STATES, NORTH AMERICA, WOODVILLE, NEW ENGLAND
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Organisation: 
FREEPOINT SOLAR, STANDARD SOLAR, FREEPOINT SOLAR LLC
Summary
Key Points: 
  • Standard Solar , a recognized leader in the development, funding, ownership and operation of commercial and community solar assets, continues to expand its community solar portfolio in Rhode Island with the acquisition of a 4.9 megawatt (MW) project from Freepoint Solar LLC.
  • The Woodville ground-mounted community solar project in Richmond, RI, was developed by Freepoint Solar.
  • The community solar project, part of Rhode Island’s Renewable Energy Growth Program, will allow customers in the state to benefit from clean energy savings by offsetting their electricity bills with solar energy.
  • This community solar project comes at a time of rising electricity prices across the country, with Rhode Island having some of the highest rates in the nation.


Standard Solar, a recognized leader in the development, funding, ownership and operation of commercial and community solar assets, continues to expand its community solar portfolio in Rhode Island with the acquisition of a 4.9 megawatt (MW) project from Freepoint Solar LLC.

The Woodville ground-mounted community solar project in Richmond, RI, was developed by Freepoint Solar. Standard Solar will be the project’s long-term owner and operator. The array will provide customers with locally produced clean energy and help meet the state’s goal of transitioning to 100 percent renewable energy by 2030, as mandated in 2020. The community solar project, part of Rhode Island’s Renewable Energy Growth Program, will allow customers in the state to benefit from clean energy savings by offsetting their electricity bills with solar energy.

This community solar project comes at a time of rising electricity prices across the country, with Rhode Island having some of the highest rates in the nation.

“Providing much-needed relief from rising energy costs to customers is critical to furthering the clean energy economy, and collaborating with partners like Freepoint Solar brings us a step closer to that goal,” said Harry Benson, Director of Business Development, Standard Solar. “This project, which will serve hundreds in the community, plays a significant part in transitioning Rhode Island into a 100 percent renewable energy state and will help reach its goal of being the first state in the nation to do this by 2030.”

“Freepoint Solar is pleased to have teamed with Standard Solar on the Woodville Project and continues to look for opportunities in New England to support the region’s transition toward a renewable future,” said Peter Ford, Managing Director of Freepoint Solar.

In addition to accelerating the state’s clean energy supply, the project will generate new long-term investment, savings and job growth opportunities across the economy.

The array is expected to produce 7,700-megawatt hours of clean energy annually, equivalent to offsetting the carbon emissions of 3,655,423 pounds of coal or the annual electricity use by 648 homes.

For information on how to subscribe to this solar project, contact us at [email protected]. The project is anticipated to be completed in the summer of 2023.

About Standard Solar

Standard Solar, a Brookfield Renewable company, is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 18 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 300 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.

For project acquisition and development inquiries, contact Harry Benson, Director of Project Development, at 240-802-6012, [email protected] and on LinkedIn.

About Freepoint Solar LLC

Freepoint Solar LLC, the solar energy development affiliate of Freepoint Commodities LLC, originates and develops distributed and utility-scale projects in the Northeastern United States located near population centers to help satisfy the growing demand for renewable power.

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