Dynamic Energy and DSD Energize Connecticut's First Community Solar Project on STAG Industrial Rooftop in Milford, CT

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Aug 30, 2023, 06:00 ET

The 2.1 MW Project Is Expected to Provide 2.6 Gigawatt-Hours of Clean Energy and Is the First Operational Project for the State's Shared Clean Energy Facility (SCEF) Program

WAYNE, Pa., Aug. 30, 2023 /PRNewswire/ -- Dynamic Energy Solutions, LLC, a leading developer and installer of commercial and community solar projects, has completed construction on a groundbreaking rooftop solar project in Connecticut. The 2.1 MW solar system became operational in August 2023 and is the state's first Shared Clean Energy Facility (SCEF) project to come online.

Dynamic Energy completes 2.1 MW Rooftop Community Solar project, the first for Connecticut's SCEF Program to become operational

The rooftop project is owned by DSD Renewables (DSD), a distributed energy solution provider, and hosted by STAG Industrial (NYSE:STAG), a leading real estate investment trust (REIT) focused on industrial properties. The project was facilitated by Black Bear Energy, a Legence Company, and developed and built by Dynamic Energy.

This project is part of a growing trend in commercial real estate to host community solar projects on industrial rooftops. In turn, these projects help states meet their emissions and sustainability goals while delivering clean energy to local communities.

Collaboration is Key for Community Solar Rooftops

This project exemplifies the thoughtful collaboration between commercial real estate entities, developers, financiers, utilities, and engineering, procurement and construction (EPCs) that is vital when bringing these important renewable energy projects online.

"As the developer and EPC on the STAG project, we appreciate the opportunity to work with such dedicated partners to deliver clean, locally generated energy to communities in Connecticut," said John Conley, President and CEO of Dynamic Energy. "At Dynamic Energy, we are committed to building distributed energy resources close to the communities where the energy will be used. Forward-thinking policies like Connecticut's SCEF program are unlocking new opportunities to generate clean energy on otherwise dormant rooftop space. We value our long-standing relationship with DSD and are grateful to partner with them on these iconic projects."

"This project demonstrates DSD's commitment to accelerate the deployment of renewable energy resources," said Kevin Hu, Senior Manager of Asset Acquisitions at DSD. "It is an honor to work with trusted partners like Dynamic Energy and we are proud to see their hard work come to fruition on this monumental project that will deliver clean energy to Connecticut communities."

"STAG is committed to taking action to host solar on our rooftops. Bringing additional renewables onto the grid in areas where our buildings are located provides a win for the community, the utility customers, and our shareholders. This is the 13th solar project we have energized and will bring our total MW of hosted renewables to over 27.7 MW," said Brian LaMont, SVP of Construction/Sustainability for STAG Industrial.

"Rooftop solar projects, hosted on industrial warehouses, offer an incredible opportunity for REITs to develop distributed renewable energy and decarbonize the built environment. Black Bear is proud to have facilitated this project between STAG and DSD and we look forward to bringing more clean energy onto the grid with these partners in the future," said Black Bear's Founder and President, Drew Torbin.

Clean Energy for Connecticut
Through Connecticut's SCEF program, this solar project will export lower-cost clean energy back onto the grid for use by local electricity users. The 2.1 MW solar project is expected to generate enough electricity to power approximately 300 average Connecticut homes each year. The project is expected to offset approximately 1,825 metric tons of carbon dioxide each year, which is the equivalent the carbon sequestered by 2,176 acres of U.S. forests in a year.

About Dynamic Energy
Founded in 2007, Dynamic Energy is a full-service developer and EPC focused on commercial and community solar, energy storage, and EV charging projects across the U.S. With perspective, skill, and tenacity, we guide our partners into the next generation of clean energy. We have built more than 200 megawatts of solar with $350 million in asset value and have a development pipeline totaling more than 750 MW. Our mission is to create impactful distributed generation projects that decarbonize the grid and bring more clean, affordable energy to the communities where it's used. For more information, please visit www.dynamicenergy.com.

About DSD Renewables
DSD Renewables (DSD) is transforming the way organizations harness clean energy while building a more sustainable future. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD accelerates the deployment of renewable energy resources and creates significant value for our commercial, industrial, and municipal customers and partners. Backed by world-leading financial partners, our team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own, and maintain. To learn more, visit DSDRenewables.com and connect with us on LinkedIn, Twitter, and Facebook.

About STAG Industrial, Inc.
STAG Industrial, Inc. (NYSE:STAG) is a real estate investment trust focused on the acquisition, ownership, and operation of industrial properties throughout the United States. As of June 30, 2023, the Company's portfolio consists of 558 buildings in 41 states with approximately 111.1 million rentable square feet. For additional information, please visit the Company's website at www.stagindustrial.com.

About Black Bear Energy
Black Bear Energy, a Legence Company, is a technology-enabled, commercial buyer's representative specializing in onsite renewable energy and cleantech services. In the past five years, Black Bear has helped its clients bid out over 1,000 clean technology projects in more than 20 states through its data driven process. For more information about Black Bear Energy, visit BlackBearEnergy.com. For press inquiries, contact [email protected].

SOURCE Dynamic Energy