SunEdison, in partnership with BlueWave Capital LLC of Boston, announced the completion of a 1.8 MW DC solar power plant constructed on a remediated EPA Superfund site in New Bedford, Massachusetts.
The system was developed on approximately 10 acres of land on the remediated Sullivan's Ledge landfill site and represents another significant step towards meeting the City of New Bedford's goal to satisfy 60% of their electricity needs from solar power. The City of New Bedford is the owner and host of the site and will purchase the net metering credits generated from the system.
SunEdison partnered with BlueWave Capital to develop the project, arranged construction financing and permanent financing for the project, and managed local partners to provide EPC services. This project marks the second of three solar projects that SunEdison and BlueWave have developed for the City of New Bedford, a community that has been recognized nationally as being a leader in renewable energy.
“Working on a Superfund site can be challenging, but together with BlueWave Capital we successfully transformed a site that was once used to dispose of hazardous materials into a model solar project that will provide energy savings to the City of New Bedford for years to come," said Steve Raeder, SunEdison's managing director of sales.
In addition to owning and hosting the site, the City of New Bedford signed a 20-year net credit purchasing agreement with SunEdison at rates that will significantly reduce its electricity costs. The savings generated from the Sullivan's Ledge system are estimated to total over $76,000 annually and $1.8 million dollars over the term of the agreement.