A former coal mine in western Maryland has recently been transformed into the state\u2019s largest solar farm and now generates enough electricity to supply power to more than 30,000 homes.<\/p>\n
The site\u2019s launch was announced by Competitive Power Ventures\u2019 (CPV) affiliate CPV Renewable Power and its strategic investment partner Harrison Street Asset Management (HSAM) on December 22. <\/p>\n
The newly operational solar facility boasts an installed capacity of 160 megawatts (MW). It was developed on reclaimed mining land in Garrett County, roughly 178 miles from Washington, D.C.<\/p>\n
It hosts about 324,000 solar panels spread across a decommissioned coal mine that had previously reached the end of its productive life. \u201cCPV Backbone Solar exemplifies our mission to support a responsible energy transition,\u201d Sherman Knight, CPV CEO, stated.<\/p>\n
Mining land repurposed<\/p>\n
As the project entered operation, CPV secured its third solar tax equity financing with U.S. Bank. Serving as advisor, Marathon Capital, the US\u2019 largest independent investment bank, highlighted the project\u2019s quality and CPV\u2019s role in large-scale renewable development.<\/p>\n
Developed by New Jersey-based solar engineering company Vanguard Energy Partners, the once-thriving coal mine<\/a> is capable of producing enough electricity to supply approximately 30,000 households annually. <\/p>\n Projects built on former industrial or mining land, often referred to as brownfield redevelopment<\/a>, are gaining attention as governments and developers seek ways to expand renewable energy without competing with natural habitats. <\/p>\n \u201cBy transforming exhausted coal mine land into a productive solar facility<\/a>, we\u2019re demonstrating how brownfield redevelopment, innovative engineering, and strategic partnerships can meet complex project challenges and deliver new power generation in Maryland,\u201d Knight continued.<\/p>\n Meanwhile, Carolyn Arida, Harrison Street Asset Management senior managing director of infrastructure and co-portfolio manager, emphasized that the project highlights how utility-scale renewables can help meet rising power demand<\/a>.<\/p>\n \u201cWe value our partnership with CPV and look forward to continued collaboration as we expand our portfolio of contracted renewable projects nationwide,\u201d Arida pointed out.<\/p>\n A new energy chapter<\/p>\n Apart from generating clean power, the new solar farm is expected to bring great economic benefits to the local community. Despite contributing significant long-term tax revenue, the farm will also support jobs during construction. <\/p>\n \u201cI\u2019m excited to see the CPV solar project come online,\u201d Delegate Jim Hinebaugh, Jr. said. \u201cNot only does it return previously mined land to use and add to the County\u2019s tax base, it brings a new source of power to the grid at a time when demand for electricity is growing.\u201d<\/p>\n