Dynamic Energy and Soltage Partner to Deliver One of Albertsons Companies' Largest Solar Assets

Rhea-AI Summary

Dynamic Energy Solutions has achieved financial close and begun construction on a 6.6 MW solar array in Norridgewock, Maine, under a significant offtake agreement with Albertsons Companies (ACI). This project is poised to generate over 8.5 million kilowatt hours of renewable energy annually for Albertsons' Shaw's stores. The initiative aligns with Albertsons’ commitment to reduce carbon emissions and fulfill Maine's Renewable Portfolio Standard goal of 100% renewable electricity by 2050. Construction is expected to be completed by the fourth quarter of 2021.

Positive

• The project will generate over 8.5 million kilowatt hours of renewable energy annually.
• Supports Albertsons' commitment to climate action and achieving sustainability goals.
• Aligns with Maine's Renewable Portfolio Standard for 100% renewable electricity by 2050.

Negative

• None.

WAYNE, Pa., Aug. 26, 2021 /PRNewswire/ -- Dynamic Energy Solutions, LLC today announced that it has achieved financial close and commenced construction of a 6.6 Megawatts (MW) DC ground-mounted solar array in Norridgewock, Maine. The project includes a landmark offtake agreement with Albertsons Companies, Inc. (NYSE: ACI), and it is one of the first and largest commercial solar installations in Maine's burgeoning solar market.

Once fully operational, the 6.6 MW system is expected to annually generate more than 8.5 million kilowatt hours of clean, renewable energy for many of Albertsons Cos. Shaw's store locations throughout the Central Maine Power utility territory.

"This system will not only provide the benefits of clean and renewable energy for Albertsons Companies, but also serves the future needs of Mainers by addressing the threats of climate change," said John Conley, Dynamic Energy's President (and Bath, Maine native). "Our team is proud to continue its development work in Maine and support the state's Renewable Portfolio Standard goal of 100% renewable electricity by 2050."

As one of the largest solar assets within Albertsons Cos.' portfolio of renewable energy sources, this agreement emphasizes the company's commitment to climate action. Earlier this year, Albertsons Cos. committed to setting a science-based target to reduce carbon emissions, and the company plans to leverage innovative partnerships, like that of Dynamic Energy and Soltage, to meet their climate goals.

"Delivering solar energy to our Shaw's stores in Maine aligns with Albertsons Companies' commitment to continue making a meaningful difference in our neighborhoods and reducing our climate impacts," said Suzanne Long, Group Vice President of Strategic Sourcing & ESG at Albertsons Companies. "This project with Dynamic Energy and Soltage represents a major step in working toward our science-based reduction goals."

Early in 2019, Dynamic Energy identified and secured an area of land based on key site criteria, while delivering the landowner a reliable and long-term annuity income stream. Consistent with Dynamic Energy's solar siting practices, the field underneath the panels includes a mix of grasses and flowers to maintain the ecology of the land for pollinators further enhancing the local benefits of the system.

After the land was secured, Dynamic Energy introduced its trusted finance partner Soltage, the national Independent Power Producer. In partnership with Soltage, Dynamic Energy has brought over 8 MWs of commercially operational solar capacity onto the grid.

"We're proud to blaze a trail in Maine's growing market, with our friends at Dynamic Energy," said Jesse Grossman, CEO and Co-Founder of Soltage. "It's critical to support American businesses as they move forward to adopt clean energy to decarbonize their operations, and we're happy to be part of their transition."

In addition to the development and disposition of the project, Dynamic Energy is also providing engineering, procurement, and construction (EPC) services for the project. Dynamic Energy is expected to complete construction, installation, and final commissioning in the fourth quarter of 2021.

About Dynamic Energy Solutions, LLC
Dynamic Energy is a full-service solar energy provider that brings together the diverse expertise needed to design, finance, build and maintain projects to meet the needs of commercial, industrial, and institutional customers. With an in-house team that includes professional engineers, project managers, development, procurement, and master electricians, Dynamic Energy creates high-quality projects that reduce customer expenses, improve operating efficiency, provide an attractive return on investment, and achieve sustainability goals. For more information, please visit www.dynamicenergy.com.

About Albertsons Companies, Inc.
Albertsons Companies is a leading food and drug retailer that operates stores across 34 states and the District of Columbia with more than 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2020, along with the Albertsons Companies Foundation, the Company gave $260 million in food and financial support, including $95 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat. Albertsons Companies also pledged $5 million to organizations supporting social justice. These efforts have helped millions of people in the areas of hunger relief, education, cancer research and treatment, social justice and programs for people with disabilities and veterans' outreach.

About Soltage
Soltage is a leader in the development, financing, and operation of distributed utility-scale solar assets for commercial, industrial and municipal customers across the United States. Soltage has developed more than 100 solar energy projects with more than 400 MW total distributed generating capacity under construction and management. Soltage is backed by a group of investors including Prudential Capital Group and is headquartered in Jersey City, New Jersey. For more information, visit www.soltage.com.  

 

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SOURCE Dynamic Energy

FAQ

What is the significance of the solar project by Albertsons Companies (ACI)?

The solar project, developed by Dynamic Energy Solutions, aims to generate over 8.5 million kilowatt hours of renewable energy annually for Albertsons' Shaw's stores, marking a significant step in their commitment to sustainability.

When is the solar array project in Norridgewock, Maine expected to be completed?

Construction of the solar array is expected to be completed by the fourth quarter of 2021.

How does this solar project align with Albertsons Companies' climate goals?

The project supports Albertsons' commitment to reduce carbon emissions and contributes to Maine's goal of 100% renewable electricity by 2050.

What is the capacity of the solar array being built in Maine?

The solar array has a capacity of 6.6 megawatts (MW) DC.