EOS Ventures LLC has closed on its sale of the development rights for a 2.4-MW solar project to Nexamp Inc., a solar solutions provider based in Massachusetts.
Nexamp said April 21 that the project is situated on land owned by an affiliate of Jiminy Peak Mountain Resort in Hancock, Mass. Nexamp will construct, own, and operate the solar facility. The project is expected to go online by the end of September of this year.
EOS Ventures, together with Apis Energy Group, has been the driving force behind the development work on the project, including the design, engineering, and coordination with state agencies as well as the local utility and town of Hancock.
Jiminy Peak will purchase the output of the facility, adding to its growing portfolio of environmentally sustainable energy options that includes a 1.5-MW General Electric wind turbine erected in 2007 and a cogeneration facility installed in 2012. With these solar credits, 80% of Jiminy Peak’s annual electricity demand will be met or offset by renewable energy.
“This project has been a unique development,” said Tyler Fairbank, CEO of the Fairbank Group. “Both EOS and Jiminy Peak are within the Fairbank Group portfolio of businesses and both companies’ complementary capabilities were critical to getting the project this far. Nexamp has been an outstanding partner and its capabilities will allow for a seamless transition from acquisition through commercial operations.”
“Acquisitions are a natural complement to our solar development, construction, and financing capabilities, and a growing part of our success as a company,” said Zaid Ashai, CEO of Nexamp. “Our ability to work with impressive partners like EOS at any stage of a solar project’s lifecycle helps to ensure that quality projects get built and contribute to our vibrant clean energy economy. Nexamp continues to seek quality acquisitions like the EOS solar project.”
Founded in 2007 and headquartered in Massachusetts, Nexamp is among the Northeast’s largest commercial solar providers.
EOS Ventures is a renewable energy company focusing on wind, solar and cogeneration projects. Located in Hancock, Mass., EOS is in its eighth year of developing renewable energy in the Northeast.
Apis Energy Group provides renewable energy project development and owner’s representation services for large-scale distributed energy projects throughout the Northeast.