November 12, 2024
Independent energy producer Navisun and North Carolina-based solar developer Queen City Solar have worked together to develop community solar in Maryland. The companies formed a structured co-development partnership that is already advancing 30 MW of community solar energy to benefit energy communities and consumers across the state.
The partnership between Queen City Solar and Navisun not only supports the development of more solar energy, but also serves as an example of the potential for well-structured partnerships between startup developers and long-term owners. Queen City Solar will leverage its strong landowner relationships and development expertise to acquire sites, advance development and move projects through permits. Meanwhile, Navisun will take ownership and finance the projects from an early stage, with the partners sharing both the risk and benefits of their collaboration.
Four of the first projects will be located in Western Maryland on underutilized land: dormant agricultural plots, odd-numbered parcels and former mining sites; the other five will be in central and eastern Maryland and will be built on underutilized agricultural land or family plots. Landowners receive annual lease income in exchange for hosting the solar panels. Cumulatively, the 30 MW will benefit 3,000 customers, at least half of whom qualify as low or middle income.
“Co-development is a core strategy for us, and we are committed to developing, co-developing and building community solar projects that serve energy communities and those who have traditionally not been able to benefit from solar,” said Matt Preskenis, senior VP business development at Navisun. “These projects will be developed into Maryland’s community solar program in a way that directly benefits income-qualified customers statewide, with more to come.”
Navisun is currently the exclusive co-development partner of Queen City Solar in Maryland. The partnership stemmed from Navisun’s established track record of successful partnerships and steady capital flows.
“Having a well-funded partner who has an in-house construction team and is an owner-operator helps minimize unknown variables and keep all parts of the project under one roof,” says Keith Akers, founder of Queen City Solar. “Thanks to our collective industry experience and Navisun’s strong balance sheet, landowners can be confident that their project will be built. And just as important: they work with the same team from day one.”
The first half of the projects are targeted to complete development in early 2025 and break ground later that same year, while the second half isn’t far behind.
Keywords: Community Solar Energy
