Nexamp and NuGen Complete 2.4 Megawatt Solar Array at Massachusetts Farm

BOSTON, MA--(Marketwired - Jul 31, 2014) -  Nexamp, a leading Massachusetts-based solar solutions provider, and NuGen Capital Management, a private equity firm investing in renewable energy and real estate, today marked the first month of operation of its 2.4 megawatt solar facility at Fairview Farms in Whately, Massachusetts. The project will provide a consistent source of income to the multi-generational family farm that hosts the array as well as substantial energy savings for the University of Massachusetts Amherst. 

Nexamp developed, designed, constructed and will operate the 8,129-panel ground-mounted array, which was built on marginal farmland. NuGen Capital Management owns the project.

"Farmers here have three to four month periods of no income, and the regular income from this project will help even out the seasonal variability," said Alan Sanderson, owner of Fairview Farms. Revenue from the solar array will go towards supporting its farming operations. 

The project will also produce enough electricity annually to power nearly 400 homes while generating net metering credits that will provide long-term energy savings to the University of Massachusetts Amherst. The university has agreed to purchase the net metering credits for this project, as well as another 1.5 MW generated from a second Nexamp developed, designed and constructed solar project at a farm in Hadley, MA. Combined, these two projects are expected to save the University approximately $1.5 million over the first 20 years of operation. 

"We are proud to partner with Nexamp and NuGen to expand the amount of clean, renewable energy available in Massachusetts," said Juanita Holler, UMass Amherst's Associate Vice Chancellor for Facilities & Campus Services. "The University of Massachusetts Amherst is dedicated to leadership in sustainability and climate change mitigation and this unique opportunity to support the development of solar PV on land near the Amherst campus was a perfect fit for us. These solar projects complement our leadership in renewable energy and climate-related research programs, our goal of carbon neutrality, and our nationally recognized green campus operations. These projects are also providing important financial benefits to the University. We will leverage these savings to implement more energy efficiency and renewable energy projects on our campus."

"Our partnerships with these farms and UMass Amherst are great examples of how solar energy can enhance our partners' missions," said Zaid Ashai, Chairman and CEO of Nexamp. He added, "these projects help optimize the use of our clients' land to bring meaningful savings and income along with environmental benefits." 

"The Fairview Farms solar project supports a multi-generational farm, increases jobs in MA, supports the budget of Whately and provides electricity savings for a leading university all while generating clean energy for the region," said David Milner, CEO of NuGen Capital Management. "I can think of no better example of an outstanding investment and one that we are proud to have made. We look forward to a long term partnership with Nexamp and those benefiting from this project."

Competitive Energy Services advised UMass Amherst on the Whately and Hadley solar projects.

About Nexamp

Nexamp delivers proven solar energy solutions. From project development through financing, construction, and operation, Nexamp's comprehensive approach makes going solar simple and profitable for our clients and partners. Find out how Nexamp can make your solar project a reality at www.nexamp.com.

About NuGen Capital Management

NuGen Capital Management owns, operates and develops renewable energy projects as well as invests in real estate conducive to energy generation and storage. NuGen's energy focus is on grid connected and behind the meter solar projects. Real estate investments include large parcels of land and commercial properties where solar energy and storage are viable. Based in Rhode Island, NuGen seeks opportunities where renewable energy policies encourage job creation and energy sustainability. For more information, please visit: www.nugencapital.com.