The solar canopy will sit on top of a parking garage at The Source at White Plains, a shopping center located in downtown White Plains, and will provide low-cost renewable energy to local homes and businesses. The Source is owned by an entity advised by UBS Realty Investors LLC.
“DSD is thrilled to partner with UBS Realty and Black Bear Energy on this project, which will bring clean, renewable energy to White Plains residents and businesses at a reduced rate,” says Dan O’Brien, senior director of commercial origination at DSD.
“UBS Realty Investors is committed to seeking out sustainable investment opportunities on behalf of its clients, while also delivering risk-adjusted returns,” says James Zilora, executive director of UBS Realty Investors. “We look forward to further increasing renewable energy across our portfolios.”
The system, anticipated to be operational before the start of 2022, will produce an estimated 1,650 MWh of renewable energy annually.
“Using both onsite renewable generation and community solar programs, our clients are able to provide value to themselves and their surrounding communities,” comments Drew Torbin, Black Bear Energy’s CEO. DSD and investors within its Mohawk Fund will own the project long-term. All offtake for the project is currently committed.