Luminia, formerly SD Renewables, has entered a joint development agreement with New Hampshire Solar Garden to secure funding for its pipeline of projects, including five community solar projects in Maine for a combined capacity of 15 MW.
Through its financial offering and proprietary technology platform, Luminia provides New Hampshire Solar Garden with access to intermediate and long-term financing.
“Community solar is essential for many parties in the transition to renewable energy,” says Andrew Kellar, founder of New Hampshire Solar Garden. “We are thrilled to team up with Luminia in forming a long-term partnership that increases our access to capital, allowing us to accelerate momentum for a healthier planet. As Maine strives to become a carbon-neural state by 2045, securing the funding and resources needed to turn that vision into reality is what Luminia brings to the table – and much more.”
The Maine community solar farms – located in Baldwin, Berwick, Brewer, Eliot and Standish – allow residents to purchase credits from a remote solar PV system.
“New Hampshire Solar Garden has been an excellent partner in the community solar market, in addition to their commercial and industrial projects, and we are excited to be a part of Maine’s commitment to becoming carbon-neutral,” mentions David Field, co-managing partner of Luminia. “Through collaboration with our partners, our goal is to make community solar as effortless as possible by streamlining the financing and development process for both officials and our channel partners.”
“Community solar takes a cooperative and mutually beneficial approach to solar projects with Maine communities,” states Matthew Fricker, chairman of the planning board in Baldwin. “Community solar projects create jobs, reduce climate-damaging emissions and decrease reliance on fossil fuels. They also enable towns, schools, businesses and homeowners to save money on their electric bills, all while increasing tax revenues.”