Solar Photovoltaic Power Plant on Remediated Landfill Site Brings Clean Energy and Electricity Savings to City of New Bedford
SunEdison, Inc. (NYSE: SUNE), a leading global solar technology manufacturer and provider of solar energy services, in partnership with BlueWave Capital LLC of Boston, today announced the completion of a 1.8 megawatt (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.
"Projects like Sullivan Ledge demonstrate the opportunities that can be achieved through solar," said Steve Raeder, SunEdison's managing director of sales. "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."
"Sullivan's Ledge marks the latest chapter in the New Bedford solar success story," said John DeVillars, the managing principal of BlueWave Capital and the former regional administrator for the Environmental Protection Agency. "We are proud to have been a part of an exceptional team of professionals from the City, the EPA, the Massachusetts DEP, and of course SunEdison. This team has done a masterful job on an extraordinarily challenging project."
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.
"My administration is dedicated to furthering the City of New Bedford's commitment to improving our city through solar projects such as Sullivan's Ledge," said Mayor Mitchell of New Bedford, Massachusetts. "Not only does the new system reduce energy costs, it also deepens community awareness of the many solar opportunities available."
