Nexamp to Purchase Maine Neighborhood Solar Portfolio from Dimension Power
Nexamp, a solar and energy storage provider, is acquiring a 10-project portfolio of 50MW of Maine community solar projects from Dimension Energy.
The projects, which are some of the earliest projects developed after Governor Mills reintroduced, expanded, and enhanced the Maine Net Energy Billing program, allow Central Maine Power (CMP) and Versant Power residential customers a portion of the project output subscribe and get savings by adding credits to their monthly utility bills. Nexamp will build the assets and manage customer subscriptions with its internal teams as long term project owner.
Dimension Energy’s development team began working on these projects in early 2019 by working with local landowners. After completing a holistic development approach that involved state and local stakeholders, the first tranche of projects is unrestricted and the rest is expected to be finalized by the EU at the end of the year. Nexamp is actively developing more than a dozen of its own projects in Maine at similar times.
The Dimension Energy portfolio highlights the significant shift towards renewable energies under the Mills administration. In June 2019, Maine lawmakers amended the state’s Net Energy Billing program to reduce uncertainty and unlock value for homes and businesses in CMP and Versant service areas. The state has quickly developed into a leading provider of solar energy.
“With these projects, thousands of Maine residents can support renewable energies while reducing their operating costs,” said Rafael Dobrzynski, CEO of Dimension Energy. “We applaud Maine lawmakers and Mills for adopting policies that will support the growth of clean energy investments and jobs across the state.”
Dimension Energy has developed each of the 10 projects that will add millions of kWh of annual electricity production from renewable sources to the state’s goal of providing 80% clean energy by 2030 and 100% clean energy by 2050. The projects also help Maine sustain a growing clean energy economy through local jobs, creating and investing millions of dollars in energy infrastructure. Nexamp will start building the projects in 2021.
Many residents cannot install their own solar panels because they do not have the capital to make an upfront investment, do not have a suitable roof, or rent their house or apartment. Community Solar enables every resident through Maine’s Net Energy Billing program to support solar energy and save up to 15% on their annual electricity bills.
Every private customer of CMP or Versant Utility can participate in one of the projects via Nexamp, without upfront costs, without long-term commitment and without cancellation fees.
Residents interested in subscribing can start the registration process here via Nexamp’s online solar platform.
Photo: Dimension Energy’s news website