Agilitas Energy, a renewable energy developer and owner in the northeast, has completed the sale of a 16.8 MWdc solar PV portfolio to CarVal Investors. The portfolio consists of 12 solar projects ranging from landfill to ground mounting to rooftop projects in New York, Massachusetts and New Hampshire. The majority of the projects have been developed, designed, built and operated by the Agilitas team over the past four years.
“The sale of these assets is strategic for Agilitas Energy. This is further confirmation of our ability to build quality projects from one of the world’s most recognized institutional buyers, ”said Barrett Bilotta, President and Co-Founder of Agilitas Energy. “And we will reinvest the proceeds of the sale in a new generation of utility-scale solar and energy storage projects in Massachusetts and New York that will take Agilitas to the next level.”
All projects have had power purchase agreements or net metering loan agreements with high borrowers such as municipalities, utilities and universities for at least 20 years.
The proceeds from the sale will help accelerate the development of Agilitas’ latest portfolio, which consists of around 44 MWDC solar PV and 34 MW / 113 MWh energy storage as part of the Value of Distributed Energy Resources and SMART incentive programs in New York and Massachusetts exists and aims to operate commercially within the next two years. With the CarVal transaction, Agilitas can step up its efforts to develop solar and energy storage systems and continue to offer consistent value to consumers, landowners, local communities and various actors in the renewable energy ecosystem.
“CarVal Investors is excited to partner with Agilitas Energy on this innovative project,” said Jerry Keefe, Principal of CarVal Investors. “We are particularly pleased with the high quality of the assets in this portfolio and the long-term arrangements they have made.”
Message from Agilitas Energy