TurningPoint Energy and Pivot Energy Announce Partnership on a 16.6 MWdc Community Solar Portfolio in Maryland
Six Community Solar Projects Located in Howard, Prince George’s, and Garrett Counties
DENVER–(BUSINESS WIRE)–#cleanenergy–TurningPoint Energy (“TPE”) and Pivot Energy (“Pivot”) announce their collaboration on six (6) community solar projects in Maryland totaling 16.6 MWdc of solar capacity. The projects, located in Howard, Prince George’s, and Garrett counties, are in the late stages of development and are expected to start construction in 2024. The acquisition of the portfolio marks the first transaction between TPE and Pivot.
The six projects were developed by TPE under Maryland’s Community Solar Pilot Program, with three of the projects located in a census tract with recent coal closures. TurningPoint Energy continues to be the leading greenfield developer in the Maryland Pilot Program since its inception in 2016. TPE’s Maryland community solar portfolio includes over 40 MWdc slated for operation by the end of 2025, with many more under development in anticipation of the permanent community solar program legislation signed into law by Maryland Governor Wes Moore over the summer.
Pivot is the long-term owner of the projects and is responsible for overseeing construction and maintaining its long-term performance. Additionally, Pivot will acquire and manage customer subscriptions with their proprietary community solar platform, SunCentral. Baltimore Gas & Electric (BGE), Potomac Edison, and Pepco customers are eligible to join one of the projects with no upfront costs.
“We are excited to partner with TurningPoint Energy on these projects in Maryland,” said Luke Rickard, Senior Director of Strategic Partnerships at Pivot Energy. “TPE has been a leader in the Maryland community solar market since the beginning. Partners and projects like these demonstrate how community solar can advance the growth of new energy markets and positively impact local communities.”
“The Maryland community solar market is unique and special for our team as it was the first market TPE entered as a community solar developer,” said Salar Naini, Executive Vice President of Business Development with TurningPoint Energy. “This portfolio is the last of four portfolios TPE will have developed under the Community Solar Pilot Program, with many more projects to come under the permanent program.”
The six projects will create construction and ongoing operational jobs along with collaboration and investment into local Maryland businesses on legal, permitting, engineering, construction, and related activities to support these developments.
Notably, TPE and Pivot Energy are unique in the community solar space as the only two companies that are committed to making charitable community investments in each of the communities where they operate. For this portfolio of projects, TPE and Pivot have committed a total of $120,000 in planned donations to local organizations. Since 2016, TPE has pledged and/or donated more than $186,000 in community investment across Maryland to worthy food pantries, emergency response service providers, schools, fire stations, and police stations. Pivot Energy has committed or pledged $110,000 in Maryland.
Once completed, the community solar projects will provide clean energy to more than 450 residential and small commercial subscribers within BGE’s, Potomac Edison’s and Pepco’s utility territories. Over their lifetime, the projects are expected to generate approximately 20 million kWh annually, contributing to Maryland’s goals of providing economic growth, workforce opportunities, and 40 percent renewable energy by 2035.
About TurningPoint Energy
TurningPoint Energy is a clean energy development, advisory and investment company with solar development projects underway throughout the United States. Its principals have experience developing solar projects for utility and community solar clients totaling more than $3 billion in value over 2 GW of operating solar power plants throughout the United States within the last decade. TurningPoint Energy is a lean, privately held firm that adapts to its clients’ needs and finds ways to invest in its clients and their communities…at every turning point. For more information, please visit turningpoint-energy.com.
About Pivot Energy
Pivot Energy is a national renewable energy provider that develops, finances, builds, owns, and manages solar and energy storage projects. Pivot offers a distributed energy platform that includes a range of services and software to serve the full solar ecosystem. Pivot is a Certified B-Corporation that proudly follows a corporate strategy aimed at positively impacting society as measured by Environmental stewardship, Social leadership, and responsible Governance (ESG) factors. Learn more at pivotenergy.net
Contacts
For TurningPoint Energy: Christy Scott, Director of Marketing, TurningPoint Energy, (c) 984-209-0634, cscott@tpoint-e.com
For Pivot Energy: Kate Laursen, Account Manager, Pace Public Relations, (c) 203-610-5879, kate@pacepublicrelations.com
