NuGen Capital Management has just announced the acquisition of an operational 4MW SREC 1 solar project in Tolland, Massachusetts. According to the company this marks the largest purchase of a fully operational project by NuGen.
The clean electricity generated by the project is to be sold to two local Municipalities and with this latest addition brings NuGen?s Massachusetts SREC 1 solar portfolio to over 17MW.
David Milner, Chief Executive Officer at NuGen Capital had this to say:
As part of our ongoing strategy to purchase operational projects, we are pleased to add this 4MW asset to our Massachusetts SREC 1 portfolio. We are confident with net metering credits and SREC values which gives us a competitive advantage in terms of overall valuation and speed to close for developers and companies interested in selling operational assets.
Additionally NuGen is in the process of adding 15MW of generation to its portfolio that it expects to be operational in 2015. NuGen seeks additional solar and real estate financing opportunities in the USA and abroad.
Gordon's expertise in the area of industrial energy efficiency and alternative energy. He is an experienced electrical engineer with a Masters degree in Alternative Energy technology. He is the co-founder of several renewable energy media sites including Solar Thermal Magazine.