BCC offers multiple financing options for an array of project types. View some examples from our increasing portfolio below.
Hanover Offsite Solar - Project Purchase - Rochdale, MA
Hanover Off Site Solar (“HOSS”) is a 1MW ground mounted project located on five acres of a nineteen acre parcel of farmland in Rochdale, MA (a suburb of Worcester).
Power is being sold to two different off-takers: the town of Millbury, MA and the Hanover Theatre for the Performing Arts (“Hanover Theatre”), which is located in a severely distressed census tract in Worcester, MA that reported a 40.6% poverty rate in the 2010 census.
HOSS offsets 80% of the Hanover Theatre’s electricity at a 20% discount over the Grid Rate. The savings help support the Hanover Theatre’s educational programs, which include their “Adopt-A-School” program that provides free tickets to more than 1,500 students annually, scholarships for their conservatory program and a six week recreation camp that takes place in ten different public parks and is provided free of charge to almost 750 Worcester children.
Originally constructed in 2011, BCC purchased the project in 2020 following the Investment Tax Credit period. BCC continues to provide discounted rates to the Hanover Theatre and Town of Millbury and has improved the environmental impact of the project by converting ground maintenance from mowed lawn to a pollinator-friendly habitat.
According to the EPA’s Carbon Calculator, the production expected over the next eleven years is the equivalent of 11.6 million pounds of coal or 1.18 million gallons of gasoline.
Encore Renewable Energy - Developer Financing - Burlington, VT
Encore Renewable Energy LLC (“Encore”) is a solar development company that focuses on commercial, industrial and small utility scale solar PV installations, acting as both a greenfield developer and the master engineering, procurement and construction firm who oversees construction of their projects.
Encore, based in Burlington VT, is considered a local/regional leader in the commercial, industrial and small utility scale solar development industry. They have a long track record of successful project development in Vermont and northern New England – a place notoriously challenging to complete project development.
BCC is participating in a $1MM revenue loan/royalty note to Encore to support growth of operations. Using financing from the royalty note, Encore envisions expanding their workforce to seventeen over the next five years, creating eight new living wage wages with robust benefits.
Madison Park Development Solar - Sponsor Equity - Boston, MA
Madison Park Development Solar (“MPDS”) is a portfolio of 16 solar roof-top installations totaling ~543 kW is being developed by Resonant Energy. All of the projects will be sited on roof‐tops of the Madison Park Development Corporation’s (“MPDC”) portfolio of commercial and multifamily affordable housing properties in the Roxbury neighborhood of Boston, MA. The projects are clustered together and located in a distressed or a highly distressed census tract.
MPDC is committed to sustainability and was recognized as a Green Organization Designee by NeighborWorks America. They continuously retrofit existing projects to meet sustainability standards and their new construction is LEED certifiable. In addition to their buildings, MPDC works with the Boston Health Public Commission and the Dana Farber Caner Institute to address the intersection of community health and sustainability with their residents, initiating programs including urban gardening, community supported agriculture (“CSA”), a farmer’s market, fitness classes, walking clubs, biking clubs and alternative modes of transportation.
Resonant Energy is a solar developer based in Boston whose mission is to help underrepresented communities build and finance solar arrays. They specialize in working with nonprofits, houses of worship, affordable housing developments, small businesses and homeowners.
As of December 2020, this project is under construction.