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Nexamp to Acquire 50mw Community Solar Portfolio from Dimension Energy to Contribute to Renewable Energy
Friday 18 September 2020

Boston, US-based solar and energy storage provider Nexamp is acquiring Houston-based energy company Dimension Energy's 10-project, 50mw portfolio of community solar projects to support commitment to clean energy, the company said.

Terms of the transaction were not disclosed.

The projects will enable residential customers of Central Maine Power and Versant Power to subscribe to a portion of a project's output and receive savings through credits on their monthly electricity bills.

Nexamp will build the assets and manage customer subscriptions with its in-house teams as the long-term project owner.

Nexamp is a solar and energy storage provider that is growing rapidly through organic development as well as acquisition.

The company offers a fully integrated suite of services ranging from development through construction, operation and subscriber management.

The Dimension Energy portfolio highlights the significant shift toward renewable energy under the Mills Administration.

In June 2019, the Maine legislature amended the state's Net Energy Billing programme to reduce uncertainty and unlock value for households and businesses across Central Maine Power and Versant utility service territories, and the state has quickly emerged as a solar energy leader.

Dimension Energy developed each of the 10 projects that will contribute millions of kilowatt-hours of annual renewable electricity production toward the state's goal of providing 80% clean energy by 2030 and 100% by 2050.

The projects also contribute to Maine's growing clean energy economy through local job creation and millions of dollars invested into energy infrastructure. Nexamp will begin construction of the projects in 2021.
Date Published: 18/09/2020