Business Excellence Awards
Please Join PBN to Celebrate the 2014 Business Excellence Award Winners on Novem ...
By PBN Staff
By PBN Staff
EAST PROVIDENCE – As the solar electric field at the former Forbes Street landfill nears completion, officials gathered Wednesday for a formal groundbreaking at the site, EastBayRI.com reported.
The 3.7-megawatt project will spread 13,000 solar panels across 18 acres of the former landfill site.
“Especially on a sunny day like today, it is remarkable to see the ongoing transformation of this previously blighted property into one of the largest solar energy facilities in the State of Rhode Island. We are looking forward to the beginning of operations later this year,” East Providence City Manager Peter Graczykowski said, according to the EastBayRI report.
The city is expected to earn more than $70,000 from the project, with $40,000 coming from the 18-acre lease and $30,600 in an upfront payment in lieu of taxes. There is an option for the Boston-based developer, CME Energy, to lease an additional parcel of land, which would bring the city a further $15,000, EastBayRI reported.
The city would also receive $20 per megawatt hour from the company if the project generates more than 95 percent of its potential output, up to a total of $31,000. EastBayRI reported that CME has a contract to sell the electricity to National Grid.