Cathartes

Commercial Real Estate Development - Boston, MA

Westford Solar Park

The Challenge

Partnering with the State of Massachusetts and the North Andover based renewable energy company, Nexamp, we set out to create the largest, privately owned solar plant in Massachusetts.

The Process
This project represented the first solar park Cathartes had ever developed, therefore education regarding the revenue generation components was essential. This included extensive research regarding electricity and energy credit sales, as well as the financing structure which used a series of tax credits and other state and federal incentives combined with more conventional private financing. Overall our finance closing required 11 separate attorneys.
The Results

The Westford Solar Park was unveiled in 2012 and provides clean, renewable electricity to 600 homes in Westford, Massachusetts, in addition to electricity cost savings to two universities ­ MIT Lincoln Labs and the University of Massachusetts Lowell. It has created 50 new jobs within the community.

Within the first 12 Months, the project has generated the equivalent of 451,505 gallons of gas saved, and 100,334 trees planted. Over the next 20 years, it is expected to displace the burning of 100,000 tons of coal, equivalent to a line of 10­ton trucks stretching end to end from Boston to Worcester.

This facility will not only create clean, environmental­ly friendly energy for consumers, but will also improve the local economy by creating new jobs. ­

Jim Arciero, State Representative

50 Jobs Created

50 Homes Powered

Annual CO₂ Reduced by 7,172,000 lbs.