SOURCE: Nexamp

Nexamp

April 21, 2015 09:00 ET

Nexamp Acquires Hancock Solar Project From EOS Ventures

The 2.4 MW Solar Project Will Help Offset 80% of Jiminy Peak Mountain Resort's Electricity Usage and Marks the Latest in a Series of Acquisitions by the Massachusetts-Based Solar Company

BOSTON, MA and HANCOCK, MA--(Marketwired - Apr 21, 2015) - EOS Ventures, LLC has closed on its sale of the development rights for a 2.4 MW solar project to Nexamp, Inc., a leading solar solutions provider based in Massachusetts. The project is situated on land owned by an affiliate of Jiminy Peak Mountain Resort in Hancock, MA. Nexamp will construct, own, and operate the solar facility. The project is expected to go online by the end of September, 2015.

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 generated by the facility adding to its growing portfolio of environmentally sustainable energy options that includes a 1.5 MW GE wind turbine constructed 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."

About Nexamp

Nexamp delivers proven solar energy solutions. From project development through financing, construction, and operation, Nexamp's comprehensive approach makes going solar simple and profitable for our clients and partners. Founded in 2007 and headquartered in Massachusetts, Nexamp is among the Northeast's largest commercial solar providers.

About EOS Ventures

EOS Ventures, LLC is a renewable energy company focusing on wind, solar and cogeneration projects. Located in Hancock, MA, EOS is in its eighth year of developing renewable energy in the Northeast. EOS provides a one-stop link for project expertise, management and ownership of a renewable energy program for its customers. EOS Ventures is a part of The Fairbank Group portfolio of businesses that also includes Jiminy Peak Mountain Resort, LLC (Hancock, MA), Cranmore Mountain Resort, LLC (North Conway, NH), Bromley Mountain Ski Resort, Inc. (Peru, Vermont), Bullwheel Productions, LLC and various other endeavors.

About Apis Energy Group

Apis Energy Group, LLC provides renewable energy project development and owner's representation services for large-scale distributed energy projects throughout the Northeast.

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