Nexamp, a solar and energy storage provider, says it is acquiring a 10-project, 50 MW portfolio of Maine community solar projects from Dimension Energy.
The projects – representing some of the first developed after Governor Mills reinstated, expanded, and enhanced Maine’s Net Energy Billing program – will enable residential customers of Central Maine Power (CMP) and Versant Power to subscribe to a portion of a project’s output and receive savings through credits on their monthly electricity bills. Nexamp will build the assets and manage customer subscriptions with its in-house teams as the long-term project owner.
Dimension Energy’s development team started work on these projects by partnering with local landowners in early 2019. Having completed a holistic development approach that embraced state and local stakeholders, the first tranche of projects is fully permitted, with the remainder expected to receive final approvals by the end of the year. Nexamp is actively developing more than a dozen additional projects of its own in Maine on similar timelines.
The Dimension Energy portfolio highlights the significant shift toward renewable energy under the Mills administration. In June 2019, the Maine legislature amended the state’s Net Energy Billing program to reduce uncertainty and unlock value for households and businesses across CMP and Versant utility service territories, and the state has quickly emerged as a solar energy leader.
“These projects will allow thousands of Mainers to support renewable energy while lowering their utility costs,” says Rafael Dobrzynski, CEO of Dimension Energy. “We applaud Maine legislators and Mills for enacting policies that support the growth of clean energy investment and jobs across the state.”
Dimension Energy developed each of the 10 projects that will contribute millions of kWh of annual renewable electricity production toward the state’s goal of providing 80% clean energy by 2030 and 100% by 2050. The projects also contribute to Maine’s growing clean energy economy through local job creation and millions of dollars invested in energy infrastructure. Nexamp will begin the construction of the projects in 2021.
Many residents are unable to install solar panels of their own because they don’t have the capital to make an upfront investment, don’t have a suitable roof, or rent their home or apartment. Community solar, via Maine’s Net Energy Billing program, enables any resident to support solar energy and save up to 15% on their annual electricity costs.
Any residential CMP or Versant utility customer will be eligible to join one of the projects through Nexamp with no upfront cost, no long-term commitment and no cancellation fees.
Residents interested in subscribing may start the enrollment process via Nexamp’s online solar platform, here.