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Syncarpha Capital is a New York based private equity firm dedicated to developing, owning and operating commercial and utility scale photovoltaic (PV) solar energy systems throughout the United States and Canada. Co-founded by Cliff Chapman and Richard Turnure, the firm was launched to capitalize on the tremendous opportunities in the alternative energy sector and to create a vehicle for investing in assets with long duration, excellent credit quality and high risk adjusted returns.

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Hancock Shaker Village getting greener: Community Solar project underway

Syncarpha Solar

PITTSFIELD — Construction of a community solar project is well underway to benefit Eversource customers throughout Western Massachusetts.

The three separate solar arrays being installed on the grounds of Hancock Shaker Village should be completed around Jan. 1 and hopefully operational early next year, according to Syncarpha Solar LLC.

The New York City-based firm, partnered with Renewable Energy Massachusetts, will have a 1-megawatt array on the Pittsfield-side of the living museum along Route 20 and two, 2-megawatt facilities in the town of Hancock.

Collectively, the solar energy generating system will feed the electricity produced into the Eversource power grid, and the three array ownership entities would be set up as Community Shared Solar facilities.

That means residents of the Berkshires who are Eversource customers can buy energy net-metering credits at a discount and realize energy savings, project officials have said.

"You can subscribe for net-metering credits before [the project] is up and running," said Matt Preskenis, Syncarpha's vice president of community solar.

Syncarpha's plan is to target residential customers of Eversource, and also municipalities or educational institutions to contract for the remaining credits.

Hancock Shaker Village also makes money off the project as the developers' facilities would provide lease income for the museum for up to a 30-year period.

"All [27 acres] of the leased land is outside the viewshed of the restored Shaker village," said acting board of trustees Chairman, Richard Seltzer in a statement. "This environmentally sound use of land is consistent with Shaker ideals and will contribute rents which will facilitate the educational mission of Hancock Shaker Village."

The developers plan to install at least a seven-foot fence around the arrays and properly screen the Pittsfield site with natural vegetation to minimize the visual impact to neighbors across Route 41.

Syncarpha views the Pittsfield/Hancock solar arrays in keeping with the museum's mission of sustainability.

"It really goes along with the value of the Shakers," said project developer Keith Akers.

Preskenis added, "The projects we get most excited about are the ones that work well and align with our customer's philosophy."

On the web ...

For information on the Hancock Shaker Village solar project, go to www.syncarpha.solar.

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Community Solar Breaking Ground in Western Massachusetts

Syncarpha Solar

05 Oct 2016

Syncarpha Capital (“Syncarpha”) has selected The Ryan Company, Inc. to build three Community Shared Solar photovoltaic facilities in Massachusetts, that will be located on a portion of the land owned by Hancock Shaker Village, a nonprofit organization, in the Town of Hancock and the City of Pittsfield in Berkshire County.  The three solar facilities have been co-developed by Syncarpha and Renewable Energy Massachusetts LLC (“REM”).  In the aggregate, the facilities will total 7 Megawatts and will be interconnected to the Eversource Energy – Western Massachusetts Electric Company (Eversource/WMECO) electrical distribution system.  The three solar parcels leased by Syncarpha are not within the view shed of the authentic historic Shaker Village, and great care has been taken to select appropriate parcels that will not interfere with the historic ambience of the museum site or negatively impact the visitor experience.
 
“These Community Shared Solar facilities in Hancock and Pittsfield will enable Eversource/WMECO residential customers to obtain the benefit of long-term electricity savings and to support the development of local renewable energy without requiring either an up-front investment or having solar panels located on their roofs”, stated Matt Preskenis, Vice President of Community Solar Development at Syncarpha. “Up to 450 residential customers within Eversource/WMECO’s service territory can participate in this local solar energy project.”  
 
Syncarpha Capital | http://www.syncarpha.com
 
Renewable Energy Massachusetts LLC | http://www.remenergyco.com
 
The Ryan Company, Inc. | 

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Airport Signs Contract to Buy Solar Energy

Syncarpha Solar

September 19, 2016

MARTHA'S VINEYARD, MASS., Sept. 13, 2016 (VINEYARD GAZETTE) -- "Aiming to save money in the long run, the Martha’s Vineyard Airport commission voted last week to buy the bulk of the electricity for the Island airport from a New York private equity fund that develops solar power facilities.

Under the terms of the contract, the airport will buy power from Syncarpha Capital, produced by a solar power facility already completed in Freetown.

The airport will receive a tax credit for buying renewable energy, and then pays a portion of the tax credit to Syncarpha Capital. As a government organization, the airport can get a larger tax credit than the company would get as a private entity, commission chairman Myron Garfinkle explained.

He said the airport will realize $825,000 in profit from the deal over the 25-year term of the contract.

Airport commissioners were skeptical.

“They’re going to send us, in 25 years, $825,000 just for signing up and saying fine,” said commissioner Clarence (Trip) Barnes 3rd. “Why are they being so nice?”

Mr. Garfinkle said Syncarpha Capital will earn $3.7 million in tax credits, but would earn much less if it does not partner with a government organization.

“We agree to buy about 80 to 85 percent of the energy we’re using today, and we agree to buy it from them,” Mr. Garfinkle said. “Once Eversource gives us the credit for that, in the form of a check, we then give a check for less money to these people. These are the kind of deals, I don’t want to sound like a snake oil salesman, but they’re not growing on trees. These are good opportunities for us.”

Mr. Garfinkle said the airport’s current electricity costs are approximately $130,000 per year.

Also at the Sept. 8 commission meeting, Mr. Garfinkle said the airport’s new master plan will be ready for review by the Federal Aviation Administration next month, and will include an expansion of the airport business park.

“We’ll be increasing the business park’s available land by quite a bit,” Mr. Garfinkle said. “We’re already seeing a lot of activity, demand is starting to pick up considerably for business park facilities. We had quite a few people coming in looking for space.”

Assistant airport manager Geoff Freeman said construction of a new airport rescue and firefighting building gets under way on Sept. 19 with site work and equipment staging.

He said a temporary facility will be built to house fire trucks and snow removal equipment during construction. Aircraft operations will not be affected.

The project is scheduled for completion by the end of next year."

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Syncarpha Capital and Pacolet Milliken Recycle Land to Complete 12 Megawatt Solar Project

Syncarpha Solar

The projects, combined of clean, renewable energy and formerly contaminated land, will provide cost-saving benefits for Massachusetts towns

NEW YORK, March 23, 2016 /PRNewswire/ -- Syncarpha Capital and Pacolet Milliken are pleased to announce the addition of three solar projects, located in the towns of Leominster, North Adams and Palmer, to their jointly-owned solar portfolio. The grid-connected projects, all privately funded, are currently delivering 12 megawatts of clean, renewable energy.

"Not only are we assisting public sector customers in reducing their energy costs," stated Cliff Chapman, managing partner of Syncarpha Capital. "But, we've identified the overall environmental benefit of developing clean energy projects on remediated land. The site in North Adams was a former landfill and the location in Palmer was a brownfield site. We're putting Massachusetts land back to productive use."

The solar projects are part of the U.S. Environmental Protection Agency "RE-powering America's Land" initiative. The initiative encourages the development of renewable energy on current and formerly contaminated lands such as landfills, brownfields and superfund sites.

"Our partnership with Syncarpha continues to see the successful deployment of renewable energy that will provide sustainable benefits for many years to come," said Ralph Walker, executive vice president of energy for Pacolet Milliken.  "The addition of these three projects brings the solar portfolio in Massachusetts to eighteen megawatts, of which have all gone online within the last two years."

During the first year of operation, the projects are expected to generate enough energy to offset the annual electricity requirements of 1500 typical U.S. residences and should avoid the creation of 11,000 tons of carbon dioxide per year. The Towns of Leominster, North Adams and Palmer will purchase the energy at favorable rates over the next twenty years.

"There are positive impacts that this will have in North Adams – there are the economic benefits that we will see, certainly it will benefit our budget by reducing electric costs," stated Ross Vivori, chairman and principal assessor for the City of North Adams. "It is also a step forward in improving the environment and future for the generations to come."

About Pacolet Milliken
Pacolet Milliken Enterprises, Inc. is a private, family-owned investment company founded in 2007 by the shareholders of Milliken & Company with a forward-looking mission to secure and grow high-quality assets with enduring value in the energy and real estate markets. For more information, please visit www.pacoletmilliken.com.

About Syncarpha Capital
New York based Syncarpha Capital is an investment company that is dedicated to developing and operating commercial and small utility distributed generation solar photovoltaic ("PV") projects in North America. The company is committed to the widespread adoption of solar energy by utilities, commercial and government electricity buyers. Syncarpha works with a variety of organizations to finance and build on-site solar systems that reduce energy costs and ensure a cleaner, greener future. For more information, please visit www.syncarpha.com.

Pacolet Milliken – Ashley Shelley, 864.271.0718
Syncarpha Capital – Ian Diamond, 212.419.4840

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Syncarpha Capital, Borrego Solar Systems, and Renewable Energy Massachusetts Complete 6 Megawatt Solar Array on Massachusetts Brownfield

Ian Diamond

PALMER, MASS., Feb. 9, 2016 (GLOBE NEWSWIRE) -- Syncarpha Capital LLCBorrego Solar Systems Inc., and Renewable Energy Massachusetts LLC (REM) announce today the completion of a 6 megawatt (MW) solar array located on the former Palmer Metropolitan Airfield in Palmer, Mass.

The Palmer Airfield Solar Project is unique in that it is both the first and, at 6 MW, the largest Department of Energy Resources (DOER) qualified brownfield project under the Massachusetts SREC II solar energy incentive program. The DOER's predecessor program, SREC I, was successful in encouraging solar development in Massachusetts through 2013, however much of it occurred on greenfields. The DOER, with key stakeholders' input, pointed out that the program should incentivize more development of solar on landfills and brownfields. Thus the SREC II program was designed to promote the positive re-use of sites cleaned up under Massachusetts Department of Environmental Protection supervision.

The Palmer Airfield project, which was cleaned up after 75 years of airfield operations dating back to the 1920s, is a perfect example of what SREC II was designed to achieve as far as siting large-scale solar at appropriate locations around the Commonwealth.

 

There are multiple entities directly benefitting from this project. The Town of Palmer, a designated Green Community, will be receiving real and personal property tax revenue of approximately $2 million over the 20 year project term. Three public entities – the Town of Leicester, the Town of Spencer, and Worcester State University, will together purchase all of the net metering credits from the energy generated by the project, which will result in millions of dollars in energy savings for these entities over the 20 year term of the energy agreements. Finally, the land owner, JenJill LLC of Wilbraham, Mass., which paid for its cleanup, will benefit from the long-term ground lease.

Syncarpha Capital, a rapidly growing developer, owner, operator and financier of utility-scale solar facilities, will finance, own, and operate the Palmer Airfield facility.

"The Palmer Airfield Solar Project provides an excellent example of the multiple benefits created by the fostering of renewable energy by the Commonwealth of Massachusetts and its implementation," said Cliff Chapman, managing partner at Syncarpha Capital. "Not only will multiple public sector entities benefit financially and directly from this project, but, in addition, underutilized remediated brownfield land will now be used to provide positive environmental impact. Syncarpha and our development team partners are proud to a part of this endeavor."

Borrego Solar—a leading developer, designer, installer and O &M provider of grid-tied solar energy systems—built the array and negotiated and finalized off-taker agreements with the Town of Leicester and the Town of Spencer.

"This project is an economic and environmental success for so many parties: it benefits the Airfield site owners, the Town of Palmer, the three energy off-takers, the project development partners, and the local contractors who built it," said Zak Farkes, project developer at Borrego Solar. "The economic impact alone is impressive, but also consider the fact that this project will offset more than 4,000 metric tons1 of carbon dioxide annually, and supply enough clean electricity for roughly 1,000 homes1. It's clear that beneficial projects like the Palmer Airfield need to be replicated throughout the Commonwealth."

Starting in March 2014, when REM first walked the site with the landowner, it anticipated a great re-use of a dormant site. REM, with assistance from Syncarpha Capital, gained site control and negotiated the lease with the landowner, performed all project development functions including permitting, initiated the National Grid interconnection process, cemented Worcester State University as a key energy off-taker, and secured the DOER's SREC II Brownfield Qualification designation for the site, the first such designation in Massachusetts.  

"We are proud of what has been accomplished at the Airfield property and how much good has come out of this project," said Brian Kopperl, managing partner of REM. "National Grid in particular has been a pleasure to work with throughout this process, and their local customers will benefit from the grid and substation upgrades that were paid for by the project, thereby increasing grid reliability and providing clean solar energy to National Grid for the next 30 years that will help satisfy their obligations under the Green Communities Act of 2008."

Solar Deal Shines on Andover

Syncarpha Solar

Last summer, the board agreed to buy about 4 million kilowatt hours, or kWh, of solar power from Syncarpha Capital of New York. The energy is to be generated from 30 acres of solar panels on a capped landfill in Palmer, Mass.

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North Adams City and School Buildings go 100% Solar

Syncarpha Solar

With the opening of a 3.5 megawatt solar panel facility, North Adams now expects to be 100 percent solar powered. The thousands of panels supplementing the electricity for the municipal and school buildings reside on a capped landfill about a mile from the city center.

For video overview - Click Here 

The city agreed to a twenty year purchasing agreement with Syncarpha Capital, a New York based private equity firm that deals heavily with solar energy systems.

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Town of Leicester Reducing Costs by Becoming Greener

Syncarpha Solar

Today, the Leicester Board of Selectmen announce another effort in reducing the Town’s electricity costs, by entering into a solar power purchase agreement that covered all up-front costs with Syncarpha Capital. The Town has agreed to purchase approximately 1.2 megawatts of power from a solar array that is being developed by Syncarpha Capital and to be constructed in the Town of Palmer, Mass. 

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New Solar Energy Bill Effects Syncarpha's Bolton Orchards Project

Cliff Chapman

A bill was signed in Massachusetts that regulates and encourages solar energy. There are no regulations to set the tax formula for solar installations, allowing negotiations of deals that are most applicable to individual communities in the state. Syncarpha Capital is developing a solar project at Bolton Orchards. A financial guaranty is still progressing.

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Syncarpha's Solar Farm in Eastampton is Ready to Generate Power

Cliff Chapman

Syncarpha Capital’s solar farm in Eastampton, New Jersey has started producing electricity. The solar farm includes 12,810 panels and is expected to produce 3 megawatts of electricity annually. The farm will general approximately 3,700 solar renewable-energy credits a year that will be able to be sold on the market.

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