DSD Renewables, a developer and owner of renewable energy resources, has acquired a nine-project, 15 MW community solar portfolio in Minnesota from New Energy Equity. The 100% residential-offtake portfolio is estimated to generate more than 20,000 MWh annually, delivering power to approximately 900 subscribers.
The acquisition increases DSD’s existing footprint in the state, following the acquisition of an 11.3 MW community solar portfolio in Minnesota just last year. This latest agreement allows DSD to help the state meet its goal of transitioning to 100% clean energy usage by 2040.
“We’re thrilled to partner with DSD on this great community solar portfolio, which will increase access to clean energy and positively impact Minnesotan communities,” says Josh Kunkel, president of New Energy Equity. “The state’s recently extended community solar program is a win for communities and developers alike, and we are excited to continue to support the clean energy transition in Minnesota.”
Ground-mounted panels will be installed in Belle Plaine, Clear Lake, Howard Lake, Mankato, Mazeppa, Saint Cloud, Sauk Rapids and Winsted. This site in Winsted is an agrivoltaic project, pairing solar panels with farmland to optimize land use. It not only helps farmers be more sustainable, but shade from the panels can also help certain crops better survive the weather elements.
“It has been promising to watch Minnesota lead the way in community solar adoption the last several years,” says Ryan Lloyd, director of asset acquisitions at DSD Renewables. “Partnering with New Energy Equity has unlocked the opportunity to work with local farmers on implementing projects in a new way that widens access and optimizes land use. This unique portfolio will have a lasting impact, offsetting electricity bills for hundreds of Minnesotan homes, promoting sustainable agricultural practices that benefit farmers and their crops and reducing the state’s carbon footprint.”
Construction is already underway on four projects and is slated to start at the remaining five sites by the end of 2023. Completion of the entire portfolio is expected by 2024. Arcadia Power will handle customer acquisition and subscriptions for the projects.