SunVest New Energy, a partnership between SunVest Solar and New Energy Equity, was awarded 37.6 MWAC of community solar capacity under the Illinois Adjustable Block Program in December. The allocation is the single-largest portfolio awarded to any developer group under Illinois’ Community Solar program.
“This news caps a landmark year for SunVest Solar,” mentioned Kirk Kindred, president of SunVest Solar. “It is an achievement that solidifies this company’s role in the Illinois solar market and positions us for continued growth nationally. We are excited for the next steps.”
The capacity was awarded under a course of required within the Climate and Equitable Jobs Act (CEJA), which was signed into regulation in September. CEJA required the Illinois Power Agency (IPA) to award community solar capacity pro-rata to any entity with a undertaking on the Agency’s waitlist. The IPA held a wildly common lottery for community solar capacity in early 2019, choosing 167 MW however leaving over 1,300 MW of further capacity on a waitlist for practically three years. December’s actions started clearing that waitlist and set the stage for the subsequent spherical of this system.
“This initial portfolio awarded to SunVest New Energy will have a tremendous impact on Illinois’ clean energy economy,” mentioned Matt Hankey, co-founder, president, and CEO of New Energy Equity. “These community solar projects will provide clean energy to residents, businesses, and municipalities throughout Illinois. We are thrilled to continue New Energy’s mission of increasing access to renewable energy for all communities.”
Market individuals have till mid-March to inform the IPA about tasks they intend to construct from their portfolio. SunVest New Energy is a partnership between the 2 firms, they usually collectively personal a pipeline of tasks throughout the state, starting from the northern counties alongside the Wisconsin border to websites in deep southern Illinois.
The three way partnership between SunVest and New Energy Equity was fashioned in 2017 in an effort to collectively pursue the community solar market in Illinois. Through the lottery course of in 2019, the three way partnership gained contracts for 10 tasks totaling 27 MW, which was the third highest award within the lottery.
News merchandise from SunVest New Energy