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Nexamp to acquire 50MW community solar portfolio from Dimension Energy

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Nexamp is acquiring a 10-project, 50-megawatt portfolio of community solar projects from Dimension Energy.

The projects — representing some of the first introduced since Governor Mills reinstated, expanded, and improved the state’s Net Energy Billing program last year— will enable Central Maine Power and Versant Power residential customers to subscribe to a portion of the output of a project and earn savings on their monthly electricity bills via credits.

Nexamp as long-term project owner can develop the infrastructure and handle customer subscriptions through its in-house staff.

In early 2019, the development team of Dimension Energy began work on these projects by collaborating with local landowners. The first tranche of projects is fully authorized, with the remainder expected to obtain final approvals by the end of 2020, having completed a holistic development approach which embraced state and local stakeholders.

The Dimension Energy portfolio underlines the major change in the Mills Administration toward renewable energy. In June 2019, the Maine legislature revised the state’s Net Energy Billing policy to minimize confusion and unlock value for households and businesses across the territories of Central Maine Power (CMP) and Versant utilities, and the state soon emerged as a leader in solar energy.

“These projects will allow thousands of Mainers to support renewable energy while lowering their utility costs. We applaud Maine legislators and Governor Mills for enacting policies that support the growth of clean energy investment and jobs across the state.”

Rafael Dobrzynski, Dimension Energy CEO.

Dimension Energy has built each of the 10 projects that will contribute millions of kilowatt-hours (kWh) of annual renewable electricity output to the state’s target of delivering 80 percent clean energy by 2030 and 100 percent by 2050.

The projects also contribute to Maine’s growing renewable energy economy by creating local jobs, and by investing millions of dollars in energy infrastructure. The construction of the projects will begin nextamp in 2021.

“The leadership in Maine has taken a forward-looking approach to slowing climate change through the addition of much-needed clean energy resources such as solar. Between the projects we have underway with our own development team and the acquisition of this new portfolio from Dimension, we are well positioned to be a leading provider of community solar in Maine and help residents save money while protecting the beauty and sustainability of their great state.”

Zaid Ashai, Nexamp CEO.

Many people are unable to install their own solar panels because they don’t have the money to make an initial investment, don’t have a suitable roof, or rent their home or flat. Via Maine’s Net Energy Billing scheme, Community Solar allows every citizen to embrace solar energy and save up to 15 percent on their annual electricity costs.

“The bold policymaking that attracts renewable energy investment and deployment is already producing results in the Pine Tree State. Making clean energy simple and accessible to all is core to our mission, and it’s rewarding to partner with experienced developers like Dimension to extend our leading community solar program to new consumers in Maine.”

John Murphy, senior vice president of corporate development for Nexamp.
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