Key Takeaways:
- BlueWave has launched five solar projects in Massachusetts, contributing 19.8 MWDC of generation and 29.7 MWhr of storage.
- The projects use dual-use solar designs that integrate agricultural activities.
- These projects are part of the Solar Massachusetts Renewable Target (SMART) Program.
- The initiative is expected to prevent 13,000 tons of carbon emissions annually.
- Lowell General Hospital is involved as an anchor customer, supporting clean energy access for low-income residents.
Innovative Solar Projects Across Massachusetts
BlueWave, a prominent solar developer based in Boston, Massachusetts, has announced the launch of five solar projects across the state. Located in Palmer, Haverhill, Dighton, and Douglas, these projects add 19.8 MWDC of solar generation and 29.7 MWhr of energy storage to the state’s power grid. This initiative operates under the Solar Massachusetts Renewable Target (SMART) Program, which aims to expand renewable energy and help the state achieve its goal of net-zero emissions by 2050.
Dual-Use Solar Design
A key feature of these projects is their dual-use design, which allows for the simultaneous generation of solar power and continued agricultural use of the land. This approach, known as agrivoltaics, enables farmers to maintain agricultural activities, such as crop cultivation and livestock grazing, beneath the solar arrays. BlueWave’s CEO and Co-Founder, Trevor Hardy, emphasized the significance of these projects for community access to solar energy and the sustainability of local farming operations.
Collaboration with Farmers and Communities
BlueWave worked directly with local farmers to implement these projects, ensuring that agricultural productivity is maintained. Nathan L’Etoile from the American Farmland Trust highlighted the role of agrivoltaics in promoting a clean energy transition that benefits both farmers and rural communities.
These projects aim to support local communities in addition to agricultural benefits. Lowell General Hospital has partnered with BlueWave as an anchor customer for the Palmer and Haverhill sites. This partnership enables the hospital to receive community solar bill credits, reducing operational costs and supporting clean energy access for low-income residents.
Looking Ahead
BlueWave’s current projects are expected to be operational by the end of 2024. Beyond these initiatives, the company is planning to develop additional solar projects across 11 states, with nearly 500 MWDC of solar capacity in active development.
BlueWave Latest News
BlueWave Secures $91M Financing to Advance Agrivoltaic Solar Projects (2023/09/11)
BlueWave, a solar developer in the Northeast U.S., announced a significant financing milestone. They secured $91 million in financing, with $64 million in debt raise from KeyBank and a $27 million tax equity raise from U.S. Bancorp Impact Finance. The funds will go towards building five agrivoltaic projects in Massachusetts. These projects aim to preserve agricultural operations and benefit stakeholders, including low-income households. The company’s CEO emphasized the importance of advancing renewable energy while preserving agriculture. BlueWave aims to set a new industry standard for responsible land use. KeyBanc Capital Markets Inc. arranged the debt financing, with advisory support from CohnReznick Capital and Foley Hoag, LLP.
