Breaking ground on a transformative new solar project
By Melinda Baglio, Chief Commercial Officer & General Counsel
Last month our team was proud to announce our first investment in a new construction solar portfolio: 29 megawatts to be built in Howard County, Maryland. Together with our partners at CI Renewables, we will construct 11 projects to supply clean solar electricity to Howard County government operations.
This is our second time working with the excellent team at CI (formerly KDC) after first acquiring their portfolio of New Jersey solar assets in 2019. Building long-term, repeat relationships with best-in-class developers like CI is paramount to our success in the middle market renewable energy industry.
Clean energy’s lasting impact
In my time with CleanCapital we’ve acquired more than 200 MW of operating solar around the country. I’m proud of the impact we’ve had in clean energy, but attending the groundbreaking for this set of projects in Maryland last week was a uniquely inspiring experience.
We met the families who have owned local farms for several generations and are leasing part of their property to host the solar panels. In some cases, the lease revenues they will receive means keeping their land in the family for generations to come.
We met elected officials from Howard County, the State of Maryland, and Congress, all of whom understand the importance of supporting clean energy: not only as a means to combat climate change, but also to bring economic benefits to the communities they represent.
When these projects reach completion in 2021 and 2022, the energy produced will account for approximately 30 percent of the total annual electricity use for Howard County government operations with an anticipated cost benefit of $1.2 million to county taxpayers. We are honored to be a part of this historic transaction and hope that we can use this as a blueprint to work with communities across the country on similar initiatives.
From left: Jaden Brown, Alyssa Hartigan, Melinda Baglio, & Tommy Golder of CleanCapital; Maryland State Senator Katie Hester; Thomas Byrne & Laura Tamjarv of CleanCapital
Learn more about our approach to project acquisition & development: