Borrego Solar sells 5 MW in Massachusetts solar energy projects

Grid-tied solar photovoltaic developer Borrego Solar Systems, a designer, installer and financier of grid-tied solar PV systems, entered into an agreement to sell 5.5 MW DC of solar energy projects to Greenwood Energy.

The solar power projects will be designed and built by Borrego Solar in the cities of Gardner and Walpole, Mass., and are just entering the construction phase. The power purchase agreement (PPA) contracts will be owned and serviced by Greenwood Energy. Financial terms of the sale were not disclosed.

The solar energy portfolio being acquired by Greenwood Energy also includes a 3 MW DC system in Walpole. By financing these transactions, Greenwood Energy is expanding its clean energy portfolio and acquiring an ongoing revenue stream.

Borrego Solar combined its long-standing reputation for developing quality, cost-effective projects with credit-worthy commercial and public-sector customers, with its deep knowledge of the Massachusetts market to successfully develop these projects.

Since shifting its focus away from residential markets in 2009, Borrego Solar has completed 86 MW of solar energy systems for commercial and government energy consumers and currently has more than 57 MW under construction.

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