Goldman Sachs agrees to acquire 24 MW solar portfolio from BlueWave Solar

 Goldman Sachs, through its unit, Goldman Sachs Asset Management Renewable Power Group (GSAM RPG) agrees to acquire the 24 MW solar portfolio from BlueWave Solar. Under the terms of the agreement, the GSAM RPG account will own the six solar energy projects moving forward, partnering with Ameresco, a leading provider of energy efficiency and renewable energy solutions in North America and the United Kingdom, to operate and maintain the project sites.

The portfolio, which was developed and jointly owned by BlueWave and MS Solar Solutions Corp, a wholly-owned subsidiary of Morgan Stanley, consists of six community solar farms in Central and Southeastern Massachusetts with a combined total capacity of 24 MW DC. Development of the farms began in 2013 and the projects have been operational since 2016.

BlueWave will continue providing customer management services for all community solar subscribers at the six solar project sites. To date, nearly 600 homeowners, businesses, schools, and municipalities have subscribed to the projects, meaning they receive credits on their utility bills for a share of the energy produced by the projects, effectively saving them up to 10% for electing community solar as their clean energy solution.