"Radnor, Penn.-based Community Energy Inc. has signed a power purchase agreement with Eastman Chemical Co. for 5 MW of solar power in Maryland.
The 20-year term of the contract allows the solar project to secure long-term financing and reduce the cost of power for Eastman. The project is expected to begin operation in 2016. Under the agreement, Community Energy will sell the solar renewable energy certificates into the Maryland compliance market.
‘This long-term agreement converts the company's power consumption at its locations near the solar facility from a short-term expense to a long-term commitment that enables new, clean, renewable power," says Jay Carlis, vice president of Community Energy.