Agilitas Energy Boosts Rhode Island's Solar Power Ambitions with 12.5-megawatt Solar Project

Agilitas Energy has acquired a 12.5-megawatt solar project in Rhode Island, supporting the state's clean energy goals and accelerating its pursuit of 100% renewable electricity by 2033. The project will provide clean electricity to over 2,500 homes and offer cost savings through the state's Net Metering Credit program. Meanwhile, Albemarle has softened, down 10.7%, amid strategic optimization to improve margins amidst lithium price fluctuations.

Agilitas Energy, a leading independent power producer (IPP) in energy infrastructure and storage, has announced the acquisition of a 12.5-megawatt (MW) solar project located in North Smithfield, Rhode Island. This strategic move supports the state's clean energy goals and accelerates its pursuit of 100% renewable electricity by 2033 [1].

The project, fully permitted with construction slated to begin in 2025 and commercial operation expected by the end of 2026, will generate approximately 16,000 megawatt-hours (MWh) of clean electricity annually, enough to power over 2,500 Rhode Island homes [1]. The project will participate in Rhode Island’s Net Metering Credit (NMC) program, providing credits that offset 100% of supply, distribution, transmission, and transition charges for each kilowatt-hour produced. Because development began before the state’s eligibility deadline, the project is grandfathered under Rhode Island’s original rules, making it eligible for the full 100% credit value [1].

In addition to net metering revenues, the solar project will generate New England Power Pool (NEPOOL) Class I Renewable Energy Certificates (RECs), contributing to the region’s Renewable Portfolio Standards and providing an additional revenue stream for Agilitas Energy [1]. The acquisition underscores Agilitas Energy's commitment to navigating the challenges posed by tariffs and policy shifts, while strengthening energy infrastructure [2].

By integrating this project into its portfolio, Agilitas Energy not only reinforces its commitment to resilient energy infrastructure but also contributes to local grid reliability and economic growth. This move exemplifies the company's ability to adapt and lead in a dynamic industry landscape [2]. Agilitas Energy's proven track record in rapidly bringing projects online, such as Rhode Island's first utility-scale battery storage facility in Pascoag, demonstrates its ability to navigate complex regulatory landscapes and deliver clean energy solutions efficiently [2].

References:
[1] https://finance.yahoo.com/news/agilitas-energy-continues-renewables-expansion-120000055.html
[2] https://www.morningstar.com/news/globe-newswire/9499625/agilitas-energy-continues-renewables-expansion-with-solar-project-acquisition-in-rhode-island