Ecoplexus has completed the construction of three solar projects in Colorado to supply clean energy totaling 4.5 megawatts.
Xcel Energy’s Solar Rewards Communities program had undertaken two of the three projects, totaling 4 megawatts.
Ecoplexus has signed long-term Renewable Energy Credit contracts with Xcel Energy and power purchase agreements with various state and municipal agencies, and local schools.
Around 2.5 megawatts project is located in Sterling, out of which 2-megawatt is a community solar project and another 500-kilowatt net-metered one is a Colorado Department of Corrections site.
A 2-megawatt community solar project, located in the City of Grand Junction is the third one.
Under the community solar structure, consumers can purchase energy from a single solar PV facility and the subscribers receive a credit on their bill from the utility for the value of the energy generated.
The funds for the project were managed by Foresight Group US.
These community solar projects provide the municipal agency and school customers with substantial savings vs. their current electricity rates while also providing a hedge against future rate increases, said, John Gorman, CEO, Ecoplexus.
The acquisition is a further demonstration of the commitment to build a portfolio of high quality community scale solar plants in North America, noted, Pietro Zerauschek, partner, Foresight Group US.
Sabeena Wahid
editor@greentechlead.com