First Wind Enters Solar Market on Massachusetts Projects
First Wind Holdings Inc. began construction on 17 megawatts of solar plants in central Massachusetts, the Boston-based wind-farm developer’s first photovoltaic projects.
The plants comprise a 3-megawatt facility in the town of Millbury and three sites with a total of 14 megawatts of capacity in Warren, First Wind said today in a statement. Borrego Solar Systems Inc. is building the projects and they’re expected to begin producing power by June.
The company will sell the majority of the output under a long-term contract to the University of Massachusetts. The towns of Millbury and Orange have also to buy a smaller portion, according to the statement. KeyCorp (KEY) provided construction and term facility loans and US Bancorp the tax equity.
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