FREDERICK, Md., Dec. 17, 2015 (GLOBE NEWSWIRE) — Empower Energies, a leading clean energy project solutions company, announced the construction of a 936.5 kWDC solar array in the Town of Boonsboro, MD.
The project will feature 3,021 (310-watt) photovoltaic solar modules situated on approximately six (6) acres of land adjacent to the Town’s waste water treatment plant.
“Leveraging low cost solar power to address the energy needs of our community will deliver significant savings over the next 25 years,” said Boonsboro Town Manager Megan Clark. “We are pleased this project is moving forward, as it delivers strong value to our constituents and showcases Boonsboro as a regional leader in renewable energy production.”
RER Energy Group – a Reading, PA-based developer with over 30MW of experience on-the-ground nationally – is co-developer on the project. The installation is expected to be commissioned and operational by early 2016, and will deliver approximately 1,269 MWh/yr of electricity annually to the Town of Boonsboro.
“The thoughtful vision and careful consideration by Boonsboro’s town leadership were essential to the project’s success,” said Jim Kurtz, President of RER Energy Group. “This project will generate value for the people of Boonsboro for the next two decades and beyond.”
The project was financed using a Power Purchase Agreement (PPA), a third-party contract that enables Boonsboro to enjoy low-cost solar electricity generation without any “out-of-pocket” expense.
Sol Systems, a Washington, DC-based solar energy finance and investment firm selected by Empower Energies and RER Energy Group, arranged financing of the project. The array will be financed, owned, and operated by Washington, D.C.-based WGL Energy, a WGL entity that delivers a full ecosystem of energy offerings across the country.
“No capital expenditures or up-front costs were incurred, so we will benefit from lower energy bills as soon as the installation is completed,” added Town Manager Clark.
“We are very pleased to partner with Empower Energies and fund this energy project, which will help lower the town’s electricity bills as well as promote the use of alternative energy solutions throughout Maryland and beyond,” said Colin Murchie, Senior Director of Project Finance at Sol Systems.
“The success of an energy project requires close collaboration between town leadership, financial partners, and the development team. With Empower Energies acting as hub, we collectively delivered a seamless and cost-saving solution to Boonsboro,” said Len Jornlin, Chief Executive Officer of Empower Energies. “We are grateful to the Mayor, Town Council, and partners RER Energy Group and Sol Systems for their support of this project that directly benefits the Boonsboro community.”
About RER Energy Group
RER Energy Group is an industry leader in providing cost-effective, high-quality solar systems throughout the United States and Latin America. The company has developed more than 30 megawatts of solar energy, obtaining over $25 million in grant proceeds for commercial, industrial, agricultural, municipal, and non-profit customers. For more information, visit www.rerenergygroup.com.
About Sol Systems
Sol Systems is a solar energy finance and investment firm. The company has facilitated financing for over 375MW of solar projects on behalf of Fortune 100 corporations, insurance companies, utilities, banks, family offices, and individuals. Sol Systems provides secure, sustainable investment opportunities to investor clients, and sophisticated project financing solutions to developers. The company’s tailored financial services range from tax structured investments and project acquisition, to debt financing and SREC portfolio management.
Inc. 5000 recognized Sol Systems in its annual list of the nation’s fastest-growing private companies for three consecutive years: 934 in the nation, and 9 in Washington, D.C. in 2015; 91 in 2013 and 446 in 2014, both nationally. For more information, please visit www.solsystems.com.
About WGL Energy
WGL Energy, a WGL entity (NYSE:WGL), delivers a full ecosystem of energy offerings including natural gas, electricity, renewable energy, carbon reduction, distributed generation and energy efficiency provided by WGL Energy Services, Inc. (formerly Washington Gas Energy Services, Inc.) and WGL Energy Systems, Inc. (formerly Washington Gas Energy Systems, Inc.). To learn more, visit us atwww.wglenergy.com.
About Empower Energies
Empower Energies, Inc., headquartered in Frederick, Maryland, is a clean energy project solutions provider focused on applying the right mixTM of combined heat and power (CHP), PV solar, and energy optimization solutions – with financing – to meet the profitability, resiliency and sustainability objectives of hospitals, universities, municipalities, and schools, as well as multi-facility commercial and industrial organizations. More information about Empower Energies can be found at www.empowerenergies.com.