FirstEnergy Solutions, a subsidiary of FirstEnergy, a diversified energy company, has entered into a long-term agreement to acquire the energy output generated at the Maryland Solar Farm. The farm is being developed for Hagerstown, Md. and after completion it will be among one of the largest solar facilities on the East Coast and the largest one in Maryland.
The Maryland Solar Farm is a $70-million project that is to be situated near Hagerstown on 250 acres of correctional facility land owned by the government. The project is scheduled for completion in 2012’s fourth quarter and is expected to become operational in 2013.
FirstEnergy Solutions is to purchase the 20 MW output from the Maryland Solar Farm for a period of 20 years. The agreement ensures a guaranteed revenue source for the solar farm, which is a major factor for obtaining financing for the project. Further, the renewable energy credits that are produced by the solar facility will be obtained by FirstEnergy Solutions.
The president of FirstEnergy Solutions, Donald R. Schneider, stated that the Maryland Solar Farm was the company’s largest solar power agreement. It will maintain the position of the company among the major suppliers of renewable energy in the Maryland region, he added. FirstEnergy Solutions has contributed significantly to the development of renewable energy in the USA and has over 500 MW of solar and wind power contracts, he said.