Impact Investment Profile: Community Energy (CE)

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Community Energy (CE) was founded in 1999 and specializes in renewable energy development in the eastern United States. CE led wind development in the Northeast at the start of the decade and, in 2009, expanded into solar project development in five additional states. CE backs utility power purchase agreements with retail renewable energy sales and hedge products. Projects built by CE include the 7.8 megawatt Vineland Solar Project in the City of Vineland, New Jersey, the 24-megawatt Bear Creek Wind Farm in the Poconos, Penn., and the 7.5-megawatt Jersey Atlantic Wind Farm in Atlantic City, New Jersey. A description of Community Energy’s most recent project (in Pennsylvania), which illustrates their ongoing commitment to fuel-free energy, follows.

On October 16, 2012, CE, along with its partners, completed the 5-megawatt (ac) Keystone Solar Project in Lancaster County, Penn. Exelon Generation (NYSE: EXE) and Community Energy’s retail marketing division committed to buy the output and back the financing for the project, which will supply the highest-quality green electricity—local solar power—to customers who sign up for a share of the generation. Several high-profile customers have already signed up for a share of the output, including Franklin & Marshall College, Eastern University, Clean Air Council, the Philadelphia Phillies, Millersville University, and most recently, Marywood University and Juniata College.

“This is the greenest of the green—local jobs building fuel-free power that will last for decades,” said Brent Beerley, Executive Vice President of Community Energy. “Forward-thinking retail electric customers, backed by Exelon Generation on wholesale, and leadership from East Drumore township, the State of Pennsylvania, and the PA Sustainable Energy Fund were all part of making this happen, and we’re under construction with an experienced team led by contractor groSolar using Canadian Solar modules. We couldn’t be happier with the team,” he said.

The Keystone Project site is located along Lancaster Pike south of the city of Lancaster. Community Energy worked hand in hand with the Lancaster County farming community and township officials in designing the project to support both farmland preservation and agricultural soil restoration.

“Community Energy was good to work with,” said Township Supervisor Chair Scott Kreider. “They designed the project so that the land can be used for agriculture again when the project is complete.”

The solar panels were designed to be installed on driven posts without concrete to avoid soil disturbance. Doing this allows the site to be maintained with selected cover vegetation to preserve and improve organic soil content.

“We are pleased to partner with groSolar and Community Energy on the completion of a project of this magnitude and impact,” said Alan King, general manager of Canadian Solar USA. “It’s an honor to work together with a pair of experienced and well-respected companies to bring local jobs and clean, renewable solar energy to Pennsylvania.”

The project will supply about 7.5 million kilowatt hours per year of solar-generated electricity under a 15-year power purchase agreement with Exelon. This project eliminates 5,516 tons of carbon dioxide, and the annual environmental benefit equals that of about 3,000 zero-emission passenger vehicles or 285,000 newly planted trees growing for 10 years. Approximately 50 construction, electrical and other jobs were created at the Keystone site.

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