Companies partner to finance and install solar energy solution that will benefit Concord residents and businesses while helping the town meet its renewable energy targets
Concord, MA – January 25, 2016 – Paradigm Properties, LLC, a full service commercial real estate investment and management firm headquartered in Boston, has partnered with Solect Energy of Hopkinton, MA to install a 450 kilowatt (kW) system on the company’s Middlesex Green, a suburban office park consisting of 300,000 square feet nestled on 30 acres in Concord, MA. The solar energy generated from the array will be sold to Concord Municipal Light Plant to help the town meet its renewable energy goals.
Paradigm Properties was interested in exploring solar because of the environmental and economic benefits associated with using cleaner energy systems. “We renovated, rebranded, and established Middlesex Green as a suburban office community with soul that brings life and work together,” comments Kevin McCall, CEO of Paradigm Properties. “Part of our plan for Middlesex Green is to make the property as sustainable as possible. We knew the 30-acre campus setting would be a great host for solar and would provide an opportunity to further the solar presence in Concord, MA.”
Paradigm and Solect entered into a Power Purchase Agreement (“PPA”) with Concord Municipal Light Plant. Under the agreement, the power generated on-site at Middlesex Green will be purchased by Concord Municipal Light Plant to provide clean energy to local residents and businesses, including Middlesex Green.
“We interviewed a number of solar companies when we started this process. We found Solect’s model to be straightforward, the economics to be attractive, and the people to be a pleasure to work with,” comments McCall. In addition to installing solar energy, Paradigm has implemented a list of environmental initiatives at Middlesex Green. These initiatives include providing tenant-clients with a Certified Green Restaurant called New Leaf, installing electric car chargers, implementing a park-wide recycling program, establishing community gardens managed by the park’s tenants, and using eco-friendly and organic lawn and cleaning products.
“Paradigm Properties is committed to making Middlesex Green as sustainable as possible, and this solar project is a big step forward for them in achieving their goals. The solar installation at Middlesex Green will serve Paradigm, its tenants, and Concord residents well for many years,” says Alex Keally, Partner and Senior Vice President of Project Development at Solect Energy. “It’s really encouraging to see different groups come together to bring renewable energy to the community.”
About Paradigm Properties
Paradigm Properties is a full service real estate investment and management company with a proven track record of success in all facets of institutional-grade real estate transactions, ownership, operation, and management. Paradigm provides its clients with a comprehensive, customizable suite of services that include consulting, asset management, property management, accounting and reporting, leasing management, construction management, and development services.
Paradigm is a client-focused, values-driven company that believes that the best way to build a real estate business is by building community. Formed in 1997, Paradigm’s headquarters are in Boston, MA with two regional offices in Columbus, Ohio and Hartford, CT.
About Concord Municipal Light Plant
CMLP is a community-owned electric utility, founded for and by the citizens of Concord in 1898. When creating this municipal utility, the idea was that local control would mean better utility service and lower rates. For 117 years, we have provided reliable and reasonably-priced service in a responsive and thoughtful manner. CMLP operates as a completely self-sustaining, non-profit, Enterprise Fund within the Town government. No property tax money is required or used to operate the Light Plant. All operating expenses, capital investments, and debt service are paid from electric revenues.