Luminace and AC Power, a brownfield solar development firm, announced a development services agreement (DSA) after their successful collaboration on two New Jersey community solar projects.
Under the DSA, AC Power will originate sites and manage key early-stage development tasks. Once an eligible project reaches construction-ready status, Luminace will acquire and build the project and serve as the long-term owner and operator. The DSA marks the most recent of Luminace’s strategic joint ventures as it pursues its commitment to advancing the energy and sustainability goals of its customers.
The AC Power team successfully worked with Luminace on the development of two community solar projects made possible by the New Jersey community solar pilot program. The close collaboration between AC Power and Luminace was vital to the success of these projects, which are expected to add approximately 2.26 MWDC of renewable power to the local electric grid and power approximately 400 homes in New Jersey.
“Luminace is pleased to partner with AC Power to develop solar projects. AC Power’s specialized experience of pairing solar energy with underutilized sites combined with Luminace’s operational experience and access to capital will help customers achieve their decarbonization goals while reducing their costs,” said Brendon Quinlivan, SVP of Luminace.
News item from Luminace
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