HADLEY, MA--(Marketwired - Nov 10, 2016) - Nexamp, Inc., today announced the completion of a 2.4 MW community solar project located on land owned by Allard's Farm in Hadley, Massachusetts. The array is the second Nexamp solar project hosted by the multi-generational family farm, following a 3.0 MW installation completed in 2012, and represents the first community solar project completed in the Western Massachusetts Electric Company service territory.
The project, consisting of over 7,500 solar modules installed on marginally productive farmland, offers a stable source of revenue to augment Allard's Farm operations over the next two decades, or longer. The project will also provide substantial energy cost savings to the towns of Hadley and Southwick, who each entered into long-term agreements with Nexamp to purchase discounted energy credits generated by the project.
Additionally, over 100 local residents, non-profits, and small businesses have signed up to participate in the project directly through Nexamp's innovative Solarize My Bill community solar program. Customers who subscribe to the project through Solarize My Bill will realize guaranteed energy savings throughout the term of their enrollment. Together with Hadley and Southwick, participants are expected to save millions in aggregate electricity costs over the life of the project.
"This project epitomizes the immense potential of thoughtful energy policy in the Commonwealth," says Zaid Ashai, CEO of Nexamp. "Sited on a relatively small portion of the farm's hay fields, the solar project will not only help sustain ongoing operations at the farm, but will also provide significant direct benefits to the surrounding community. Nexamp is thrilled to fuel our own growth with another successful community solar project, and looks forward to expanding the benefits of solar power to all Massachusetts ratepayers in the years ahead."
The Hadley project is one of over two dozen solar facilities that Nexamp expects to complete over the next six months. By the end of 2017, the company expects to be serving over 2,500 community solar customer accounts through the Solarize My Bill program in Massachusetts alone, as it expands its offering into promising new markets in New York, Rhode Island, and Maryland.
About Community Solar:
Through Nexamp's Solarize My Bill program, eligible ratepayers subscribe to a share of a local community solar project based on their projected annual electricity costs. Once the project is constructed and interconnected to the utility grid, participants receive a 15% discount on the value of the electricity generated by their share of the solar project for as long as they remain enrolled. To learn more, please visit www.SolarizeMyBill.com.
Nexamp is leading the transformation to the new energy economy with proven solutions for solar energy development, ownership, and operation. The Company's comprehensive capabilities span the entire solar project lifecycle -- from project development, design and construction to financing and operations and maintenance. Nexamp's ability to provide integrated, best-in-class solutions makes solar energy simple and profitable for our clients and partners. For more information, please visit www.nexamp.com.