The project began generating solar electricity in December 2018. UVM Medical Centre will receive net metering credits at a discount, along with a steady stream of lease revenue from an otherwise unused rooftop. Together, these will result in approximately $124,000 of total value to UVM Medical Centre over the 25-year life of the system.
“The UVM Medical Centre is pleased to have worked with Encore Renewable Energy and Sunwealth on this very successful project, the third of its kind for our organisation” said Peter C. Bero, Senior Project Manager at UVM Medical Centre. “We value their expertise in making these important renewable energy initiatives come to life.”
Acting as developer and as the engineering, procurement and construction contractor, Encore was responsible for all development, design, permitting and construction for the project, as well as for arranging the permanent financing. Sunwealth, one of Encore’s strategic financing partners, financed the project and will own and operate it for the life of the system.
“Sunwealth’s investors are individuals, foundations and corporations who want to put their money to work in regional solar installations creating clean energy, jobs and revenues for local solar developers, and energy savings for power purchasers – while delivering long-term, fixed-rate returns as the panels generate power,” added Jon Abe, CEO of Sunwealth. “The UVM Medical Centre project checks all the boxes: it’s a win for the medical centre, the community and our investors.”
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