NEW YORK, Oct. 27, 2021 /PRNewswire/ - Amp, a global energy transition platform and renewable energy developer, announced today that it has broken ground on a portfolio of wholly-owned Community Solar projects in New York state, and, along with its Massachusetts portfolio that is under construction, is on track to install nearly 100MW of Community Solar projects across its Northeastern territory by the end of the year.
The New York portfolio, consisting of 11 projects and 75MWdc of solar paired with 27MWh of battery energy storage upstate, will provide electricity bill savings to participating subscribers and allow Amp to optimally dispatch energy from the batteries based on solar generation and grid pricing signals. The Massachusetts portfolio, consisting of three projects and 20MWdc of solar paired with 24MWh of battery energy storage, will provide bill credits to subscribers with the batteries participating in the ISO-NE wholesale services markets.
"This set of projects marks Amp's largest assemblage of concurrent community solar projects in the US to date, and represents more than $230M in project investment," said Jared Donald, Executive Vice-President and Head of Amp's US operations. "As we approach the close-out of these projects, the team is preparing to start construction on a similarly-sized portfolio of New York and Massachusetts assets that will be completed next year, while we continue to look for new project opportunities in these states".
The projects under this portfolio will help the state of New York to achieve its climate and sustainability goals, including the recently increased goal of ensuring at least 10GW of installed solar capacity by 2030, while also improving the resilience and quality of the upstate grid.
Amp's long-term ownership and operation of its projects places a high priority on working together with landowners, towns and other local stakeholders to ensure a valuable, long-term partnership in the fight against climate change. The projects that make up this portfolio are no different, helping local farmers maximize or repurpose their land and creating hundreds of local jobs, while establishing long-term support for local schools which, in the case of these New York projects, includes providing financial scholarships and educational workshops to both primary and post-secondary institutions based in the surrounding communities.
As an extension of Amp's investment into the communities in which the projects are located, Amp has partnered with Eden Renewables on five of these sites to holistically focus on setting industry-leading standards for biodiversity and ecological enhancement, continuing agricultural use and community educational benefits through the use of pollinator-friendly native plants and apiaries as well as bird and bat habitats.
Community solar is increasingly recognized as an ideal solution for companies and residents to show support for decarbonization goals, while saving money and supporting the development of local renewable energy. Amp is proud to be partnering with home improvement retailer Lowes and Hannaford Supermarkets, a Northeast grocery retailer, in both New York and Massachusetts as well as the University of Rochester and thousands of upstate residents in New York on these projects to provide them with monthly credits on their electricity bills.
Amp develops and operates projects in many different power markets across North America. Businesses and homeowners interested in learning more about Amp, community solar and the opportunity to become a customer should contact firstname.lastname@example.org or visit community-solar.energy.
Amp is a global energy transition platform.
We develop, own and operate clean energy assets throughout our core markets around the world. Alongside Amp X, our disruptive grid-edge technology platform utilizing proprietary artificial intelligence expertise, we are reimagining the grid and leading the Energy Transition. The company is headquartered in Toronto with global operations throughout North America, Australia, Japan, Spain, Czech Republic, and the UK.
Founded in 2009, Amp is a high-growth disruptor at scale, backed by major investments from institutional capital partners including most recently the Carlyle Group, which invested US$374 million into the company in late 2020.
For more information, please visit amp.energy
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SOURCE Amp Energy