The Bethel Solar Project “The Project” is a 3 MW(ac) project in Bethel Township, located 3.5 miles east of the Town of Bethel near the western boundary of the State of Maine. The project is under the control of the project company NRS Maine Solar Holdings, LLC, a wholly-owned subsidiary of National Renewable Solutions, LLC.
This area of Maine is serviced by the Investor Owned Utility (IOU) Central Maine Power Company (CMP) and will be the interconnection authority for the project to supply its power to the distribution system. The project will be qualified to participate in either the newly established Distributed Generation Procurement program or the Net Energy Billing program depending on market opportunity, offtake arrangements, and capacity allocations in 2020.
NRS Maine Solar Holdings has a pending purchase option on the subject property with a due diligence period through August 31st, 2020, and a closing date on or before October 30th, 2020. The Project submitted its interconnection application with CMP on February 10th, 2020, and submitted an executed system impact study agreement on April 1. System Impact Study results are expected to be received by June 4. The Project is in queue position #1 on CMP’s Lockes Mill substation. The results of the interconnection study will indicate estimated interconnection upgrade costs, followed by CMP issuing an interconnection agreement for the Project.
In mid 2021, NRS was acquired by BlackRock Real Assets – Climate Infrastructure Group* (“BlackRock”) with the intention of accelerating the development of its pipeline of projects toward financing, construction, and operations. With NRS’ on-the-ground development and origination expertise and BlackRock’s capital markets support and global reach, we have positioned ourselves as a major player in the U.S. renewable energy market.
* BLACKROCK REAL ASSETS OPERATES ONE OF THE LARGEST CLIMATE INFRASTRUCTURE EQUITY INVESTMENT PLATFORMS IN THE WORLD WITH OVER $9.7 BILLION IN TOTAL COMMITMENTS AND INVESTMENTS IN 450 RENEWABLE POWER AND OTHER CLIMATE RELATED PROJECTS ACROSS 17 COUNTRIES AND 5 CONTINENTS.