Renewable

July 15 (Renewables Now) - Clean energy investment platform CleanCapital and solar developer Borrego have teamed up to build a 6.7-MW distributed generation (DG) solar project in Maine.

The project will be realised as part of Maine's Net Energy Billing (NEB) kWh credit programme, selling electricity to residential off-takers at a fixed discount to the prevailing utility rate for a period of 20 years. It is seen to reach commercial operation next year.

CleanCapital will fully fund the scheme. This is the firm’s fourth investment since announcing a USD-300-million (EUR 254m) commitment from Manulife in April. Its cumulative acquisitions now total more than USD 850 million, spread through more than 230 MW in 19 states.

(USD 1.0 = EUR 0.846)