Syncarpha Capital and Pacolet Milliken Extend Solar Portfolio Across Maine

NEW YORK, May 28, 2021 / PRNewswire / – Syncarpha Capital, a full-service solar developer, owner and operator of community solar farms, and Pacolet Milliken LLC, a family-owned investment company with deep roots in Maine, are pleased to announce their expansion in 2021 statewide. Through the state’s net energy metering program, Syncarpha and Pacolet Milliken plan to build approximately 74 MW, comprising 11 projects that have obtained their national and local permits. Located throughout the state, this portfolio includes projects in Augusta, Belfast, Corinne, Edgecomb, Old City, Pittsfield, Readfield, Troy, Wiscasset & Waldoboro, a number of which are scheduled to start this summer. These projects will be connected to local electricity distribution networks. Central Maine Power residential customers who subscribe to Syncarpha will benefit from guaranteed savings on their electricity bill. In addition, some projects will allow commercial and industrial customers to participate, who will also see guaranteed savings on their electricity bills.

As the expansion of Syncarpha and Pacolet Milliken in Maine is underway, additional projects are currently in the process of obtaining permits, and Syncarpha hopes they will begin construction later in 2021 or early 2022. Here are some highlights of the solar projects Syncarpha aims to build in Maine this year:

Syncarpha 7 MW project in Old City will lease land from the city to build a network at the city-owned Dewitt airfield. This currently vacant, unused and untaxed land with low agricultural value will now be a rental income stream for the city over the next 20 years.

In Reading field, Syncarpha and a landowner have reached an unusual deal, whereby the owner will put about 75 of the 95 acres into conservation. The remaining area will be leased to Syncarpha for the construction and operation of a community solar farm. The electricity generated by this grid will benefit households in the same utility “load area”, ensuring that the land is not subject to permanent commercial development. After the operational life of the solar farm, the equipment will be removed and the part used for solar energy will also be put into conservation.

Rocky land located next to a highway at Augusta will be used to generate clean local electricity. Syncarpha purchased the land to build a solar farm, but will not develop the entire plot. The project donates approximately 10 acres of woodland to the Sportsman’s Alliance of Maine, from Maine larger organization of sportspeople, for their outdoor education center. Syncarpha and Pacolet Milliken are proud to support from Maine sports community.

Land arrangements like these will help Maine to achieve the goal of the Renewable Energy Portfolio Standard of obtaining 100% of its energy from renewable energies by 2050. Syncarpha and Pacolet Milliken are proud to bring jobs in construction and construction. clean and local electricity to these communities and hope to develop further in Maine, both this year and in the future.

About Pacolet Milliken, LLC

Pacolet Milliken is a private investment company with a multigenerational investment horizon, mainly owned by the Milliken family. Pacolet Milliken operates through two divisions, Real Estate and Energy / Infrastructure, which includes a large portfolio of renewable energies.

About Syncarpa Capital, LLC

Founded in 2009, Syncarpha Capital is a New York-based private equity firm engaged in the development, acquisition, financing, ownership and operation of distributed and large-scale solar photovoltaic (PV) systems. scale and other renewable energy systems in North America. Partnering with experienced developers, installers, engineers and EPC contractors, and working closely with its customers, Syncarpha designs and builds on-site solar systems for municipalities, utilities and businesses – as well as the development of community-shared solar solutions for consumers and business customers. Syncarpha currently owns and / or operates solar assets across the United States in nine different states.

Syncarpha Capital is actively seeking partners and sites to bring cleaner solar energy to Maine and throughout the Northeast. Contact information: Michael atkinson, Project Developer, at [email protected] or (617) 455-5692.

For more information on how to sign up for community solar power with Syncarpha, call or email [email protected] or 888-55-SOLAR.

SOURCE Syncarpa Capital

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http://www.syncarpha.com


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