SOURCE: Solect Energy Development

March 14, 2012 10:00 ET

Capital Group Properties Chooses Solect to "Green" Its Property Portfolio

Second Phase of Project Will Deploy 1 MW Land-Based System in Southborough, MA

HOPKINTON, MA--(Marketwire - Mar 14, 2012) - Capital Group Properties, a Southborough, MA-based property management and real estate development firm, has selected Solect Energy Development, LLC, to roll out renewable solar energy systems across its portfolio of properties in the MetroWest Boston area.

Capital Group is deploying a land-based 1 MW (megawatt) solar photovoltaic (PV) system at 150 Cordaville Rd. in Southborough, MA, near the intersections of Routes 9 and 85. The system will be the largest of its kind in the MetroWest area, totaling approximately 4,000 panels installed over 5 acres. Capital intends to cover 100% of the local common area electric usage at 150 Cordaville Rd., and, via Net Metering, use electricity generated in excess of consumption to power the common area electrical costs at other buildings in the Capital Group portfolio.

This is Capital Group's second solar project with Solect. In 2011, Solect installed a 140 KW solar PV system at Capital's office and light industrial location at 100 Discovery Way in Acton. With these installations, Capital Group is following through on one of its guiding principles to "Conserve energy and protect the environment in our building practices," said Bill Depietri, principal at Capital Group Properties.

"Capital Group Properties is creating a model which other property management firms and property owners can embrace," said Jim Dumas, principal at Solect Energy Development. "Their commitment toward protecting the environment by using renewable solar energy is commendable. And because they were able to take advantage of federal and state incentives, a project of this size became financially and operationally feasible as well."

The Southborough project has been worked on collaboratively with several Town of Southborough departments, including the Conservation Commission, Assessor's Office, and Building Department, as well as the National Grid engineering team.

"We chose Solect due to their approach in understanding our property management needs and leveraged their solar expertise to help pull together a clean energy solution that met our operational and financial requirement," said Doug Freeman, principal at Capital Group Properties.

About Solect Energy Development, LLC
Solect is a full service solar photovoltaic (PV) project developer based in Hopkinton, MA, helping customers assess, develop, and manage solar PV renewable energy systems. Solect's turnkey solutions include: feasibility assessments, financial and incentive modeling, funding options, regulatory expertise, design and engineering, installation, and on-going management and maintenance. The company currently has 7 MW (megawatts) of systems completed and under development in New England, with a primary focus on commercial, light industrial, and institutional property owners in the MetroWest and Central areas of Massachusetts. Visit www.solect.com for more information.

About Capital Group Properties
Capital Group Properties is a full service real estate development company headquartered in Southborough, MA. Capital Group Properties specializes in the permitting, construction and property management of commercial, residential, retail, and industrial developments throughout Massachusetts.

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