U.S. developer SunEdison has signed a deal for the biggest solar acquisition in Massachusetts history.
The California-based company will acquire a 50 MW portfolio of 12 solar farms across the Commonwealth of Massachusetts, as the U.S. state is known, from Boston-based developer BlueWave Capital LLC, for an undisclosed fee.
A SunEdison press release announcing yesterday's deal, said the dozen projects will supply electricity net metering credits to the city of New Bedford, the towns of Bourne, Palmer, Webster and Winthrop and a collection of state colleges and housing authorities.
SunEdison, which will be owner-operator of the sites which it jointly developed with BlueWave, says ‘many' of the schemes will be operational by Monday June 30 and the portfolio is expected to make electricity cost savings of $85 million over the next 20 years.
U.S. Department of Energy resources commissioner Mark Sylvia, said the latest solar farms in the Commonwealth will take Massachusetts to 518 MW of cumulative installed capacity this month.
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