SMT Energy and Goldman Sachs Renewable Power (GSRP) have announced a strategic partnership to develop renewable-energy assets in the United States.
Initially, GSRP will acquire 55 megawatts of community solar facilities located in upstate New York, from SMT.
The upstate N.Y. community solar facilities encompass nine separate projects and will be operational in 2022. Once operational, the community solar facilities will avoid 60,225 tons of carbon dioxide emissions per year, equivalent to the annual average energy consumption of 8,030 homes.
“I am extremely proud of our team for developing such a strong portfolio of projects in just over one year,” said John Switzer, co-founder of SMT. “These projects are primed to deliver strong, non-correlated returns for investors as well as meaningful benefits for local communities including clean, sustainable power, high-quality jobs and substantial tax revenues.”