The Presque Isle 1 Solar Project “The Project” is a 3 MW(ac) project in the City of Presque Isle, located in the Skyway Industrial Park in the northern part of the City. 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) Emera 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 lease option agreement with the subject property with the City of Presque Isle (property owner) through December 2, 2021. The Project submitted its interconnection application with Emera on February 10th, 2020, and held a scoping meeting with Emera staff on March 27. The Project is currently waiting to execute a System Impact Study agreement with Emera, pending receipt of a copy of the agreement from Emera. This is expected before April 17, which would drive study results being issued by June 19. The Project is in queue position #1 on Emera’s Skyway substation. The results of the interconnection study will indicate estimated interconnection upgrade costs, followed by Emera 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.