September 24 (Renewables Now) - Massachusetts-based BlueWave Solar said on Friday it has sold a portfolio of community solar farms with a combined direct current (DC) capacity of 24 MW to a unit of Goldman Sachs (NYSE:GS).
The transaction saw six community solar farms in Central and Southeastern Massachusetts be transferred to a Goldman Sachs Asset Management Renewable Power Group (GSAM RPG) account. Ameresco Inc (NYSE:AMRC) will be operating and maintaining the facilities for the new owner.
The solar parks were developed and jointly owned by BlueWave and MS Solar Solutions Corp, a wholly-owned subsidiary of another investment banking major -- Morgan Stanley (NYSE:MS). They have been generating power since 2016.
BlueWave, which is a community solar specialist that also offers residential solar loans, noted that it will continue to provide customer management services for all subscribers at the six sites.