Syncarpha Capital and Pacolet Milliken Announce Completion of a Six-Megawatt Solar Energy Facility in Dartmouth, Massachusetts
Sustainable project supports the state's solar development directives while keeping energy costs low for the Town of Carver and Silver Lake School District
Dartmouth, Mass., July 9, 2014 – Syncarpha Capital and Pacolet Milliken are pleased to announce the completion of Fischer Road Solar, a jointly-owned six-megawatt (MW) solar project in Dartmouth, Massachusetts. The facility is currently the second largest solar project in Massachusetts.
Fischer Road Solar has approximately 20,000 solar panels and is located on a parcel that also contains cranberry bogs and a composting center. Ameresco Inc., a renewable energy and energy efficiency company with headquarters in Framingham, MA, constructed the facility in less than six months and will oversee its operations.
"Our mission is to own and operate high-quality solar projects that produce clean and affordable energy for Massachusetts residents over the long-term for a sustainable future," stated Cliff Chapman, Managing Partner of Syncarpha Capital.
"Our Energy Division at Pacolet Milliken has two goals – to work with best-in-class partners and to invest in high quality, long-term renewable energy generation, and we have found both in this solar energy facility," said Rick Webel, President of Pacolet Milliken.
During the first year of operation, the facility is expected to generate enough energy to offset the annual electricity requirements of 820 typical U.S. residences. The Town of Carver and Silver Lake School District will purchase the energy at favorable rates over the next 20 years.
"We are excited to be a part of this new solar facility in Massachusetts and to be working with our partner Syncarpha and the team that brought this project together – Ameresco, the Town of Dartmonth, the land owner and NStar, the local utility company," said Ralph Walker, Senior Vice President of Energy for Pacolet Milliken. "We hope this is the first of many projects in the state."
"This solar project is a great addition to our portfolio of solar PV projects developed, engineered, and constructed in Massachusetts," said Jim Walker, Vice President Solar PV, Ameresco. "We are delighted to be involved with Syncarpha Capital and Pacolet Milliken to bring the project into operation."
"We at Silver Lake School District, and the towns of Halifax, Kingston and Plympton that we serve, are excited to be a part of this project and happy that our involvement makes good economic and environmental sense for our communities," said John Tuffy, Superintendent of Silver Lake Regional School District. "Equally as exciting is the fact that our students are able to view firsthand this use of new technology as a part of the new economy."
About Pacolet Milliken
Pacolet Milliken Enterprises, Inc. is a private, family-owned investment company founded in 2007 by the shareholders of Milliken & Company with a forward-looking mission to secure and grow high-quality assets with enduring value in the energy and real estate markets. For more information, please visit www.pacoletmilliken.com.
About Syncarpha Capital
New York based Syncarpha Capital is an investment company that is dedicated to developing and operating commercial and small utility distributed generation solar photovoltaic ("PV") projects in North America. The company is committed to the widespread adoption of solar energy by utilities, commercial and government electricity buyers. Syncarpha works with a variety of organizations to finance and build on-site solar systems that reduce energy costs and ensure a cleaner, greener future. Syncarpha has completed approximately 30MW of solar projects since inception. Further information is available on the Internet at www.syncarpha.com.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for facilities throughout North America. Ameresco's services include upgrades to a facility's energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco provides local expertise through its 70 offices in 33 states and the District of Columbia, five Canadian provinces and the United Kingdom. Ameresco has more than 900 employees. For more information, visit www.ameresco.com.