Goldman Sachs buys 24-MW community solar portfolio in Massachusetts

One of 20 community solar projects in Massachusetts. Source: 38 Degrees North

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.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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