The capital commitment enables Constellation Energy to finance, design, construct and own solar installations for customers and supply the power generated on-site to the customer. This structure makes it possible for customers to deploy on-site solar and meet sustainability goals without incurring upfront costs. Approximately $18m of the capital commitment has already been committed to projects soon to begin development in Maryland and New Jersey.
Constellation Energy has also committed to expand the solar project development over the next several years. The company currently has approximately 25MW of solar power systems installed or under way in the US, ranging from customer-sited rooftop installations to a 17.1MW large-scale project in Emmitsburg, Maryland.
Michael Smith, senior vice president of green initiatives at Constellation NewEnergy, said: “Constellation Energy’s solar capital commitment provides the resources to make PV power a simple and economical proposition for commercial and governmental customers who want to support clean, renewable energy at their facilities.
“Our solar business model gives customers a single source for every step of the process, from financing to planning and permitting, construction and long-term maintenance of the system. By working with Constellation Energy, customers can make meaningful and immediate impacts on their carbon and sustainability goals.”
