Lendlease Sells 16 MW Solar Project
- Apr 01, 2020
Lendlease has sold the Wallingford Renewable Energy project to a subsidiary of NextEra Energy Resources. The 16-megawatt solar farm is currently under construction in Wallingford, Conn., slated for completion later this year.
The project differentiates itself from typical solar developments through its positioning—a portion of it will be built on a landfill. This approach is a double win for the local community: On one hand, Wallingford Renewable Energy solar project will produce clean energy. On the other hand, it will turn a former brownfield piece of land—which translates into maintenance costs—into a money producing facility through the associated tax benefits that will be paid to the local community. The traded solar project has already set in place 20-year power purchase agreements with two Connecticut utilities: Eversource Energy and The United Illuminating Co.
Earlier this year, Lendlease sold another of its solar assets—the 160-megawatt Rancho Seco Solar II in Sacramento County, Calif.—to D. E. Shaw Renewable Investments. The project, which marked the company’s first energy development in California, has a 30-year PPA with the Sacramento County Municipal Utility District.