Solar Arrays at Mass. Farms Deliver Energy Savings to University of Massachusetts Amherst and Enhance its Sustainability Goals
BOSTON, MA–(Marketwired – Jul 31, 2014) – Nexamp, a leading Massachusetts-based solar solutions provider, and NuGen Capital Management, a private equity firm investing in renewable energy and real estate, today marked the first month of operation of its 2.4 megawatt solar facility at Fairview Farms in Whately, Massachusetts. The project will provide a consistent source of income to the multi-generational family farm that hosts the array as well as substantial energy savings for the University of Massachusetts Amherst.
Nexamp developed, designed, constructed and will operate the 8,129-panel ground-mounted array, which was built on marginal farmland. NuGen Capital Management owns the project.
“Farmers here have three to four month periods of no income, and the regular income from this project will help even out the seasonal variability,” said Alan Sanderson, owner of Fairview Farms. Revenue from the solar array will go towards supporting its farming operations.
The project will also produce enough electricity annually to power nearly 400 homes while generating net metering credits that will provide long-term energy savings to the University of Massachusetts Amherst. The university has agreed to purchase the net metering credits for this project, as well as another 1.5 MW generated from a second Nexamp developed, designed and constructed solar project at a farm in Hadley, MA. Combined, these two projects are expected to save the University approximately $1.5 million over the first 20 years of operation.