CT Green Bank finances 1.1MW solar project in Milford
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The light industrial building at 80 Wampus Lane in Milford.
The Connecticut Green Bank has announced that it recently closed on C-PACE financing for a 1.1-megawatt solar project on property at 80 Wampus Lane in Milford that is owned by Milford Holdings LLC.
The tenants in the 170,000-square-foot light industrial building include both industrial and manufacturing operations, CT Green Bank said.
The cost to install the solar project is about $2.2 million, while the estimated energy revenue for the ownership over the next 20 years will top $4 million, it said. The project participated in Connecticut’s Non-residential Renewable Energy Solutions (NRES) program, through which the utility company will buy the produced electricity from Milford Holdings.
The system will generate about 1.1 million kWh annually, Green Bank said, which equals a carbon reduction of 785 metric tons, or is equivalent to the carbon offset of 1,025 acres of forest.
C-PACE, or Commercial Property Assessed Clean Energy, financing is available for all types of green upgrades to new and existing buildings. Since its inception, the program has closed more than 400 projects for more than $300 million in total investment.
Milford Holdings LLC is a holding company for a variety of industries. According to state business records, the company was founded in 2021 in Monsey, New York, by Mendy Lipschitz, who is listed as the principal.
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