Longroad Energy, a renewable energy developer and operator, announced this Monday it has begun the construction phase of four distributed solar energy projects in Maine; after it completed the development phase of the projects, that took almost two years.
Firstly, the projects are part of the Net Energy Billing (NEB) program; put in place back in 2019 under the leadership of the Mills Administration and the Maine Legislature. The company owns the 100% of the projects.
Secondly, the projects locate at strategic locations in Augusta, Baldwin, Harmony, and Monmouth; they will have a combined capacity of 26 MWdc (17.3 MWac) and will generate enough renewable energy to power the equivalent of approximately 5,200 Maine homes annually.
Thirdly, the company expects that construction will take about six months; with the start of operations for most expected by the end of 2021. MYR Energy Services will build the projects; with the support of its Maine-based subsidiary E.S. Boulos.
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Longroad Energy received support from Maine-based services companies
Moreover, about the relevance of the projects, Matt Kearns, Chief Development Officer of Longroad Energy, said. “Getting these projects financed and into construction is an important milestone.”
He also remarked. “Once completed, these projects will generate significant benefits for Bath Iron Works and Walmart; among the largest employers in Maine. We are also grateful for each stakeholder who made this day possible; in particular the leaders in each of the towns hosting these projects.”
On the other hand, MUFG served as lender and U.S. Bank as the tax equity investor for the four projects. About the participation of the firm, Takaki Sakai, managing director of project finance at MUFG, also said. “We were honored to have another opportunity to support Longroad Energy; with project financing and also, by extension, the state of Maine to help them achieve progress; toward reaching its ambitious clean-energy goals.”
Finally, according to the statement, Longroad relied heavily on Maine-based companies to provide services; and also, expertise in such areas as permit acquisition; environmental and legal matters, also engineering, civil infrastructure, and electricity.
