Foley Hoag Congratulates Boston Community Capital on Solar Energy Advantage Program
Boston, MA - December 17, 2008
Press Conference with Governor, Mayor and Other Renewable Energy Leaders Celebrates Plan to Increase Solar Energy Capacity
Foley Hoag LLP congratulates Boston Community Capital (BCC) for the launch of the Solar Energy Advantage Program. At a recent press conference featuring Massachusetts Governor Deval Patrick, Cambridge Mayor E. Denise Simmons, and renewable energy leaders, BCC celebrated the first milestone in a program designed to increase solar capacity in Massachusetts by 17%.
BCC celebrated the initiative at the Washington Elms development, an affordable housing complex in Cambridge, Massachusetts. The initiative, titled “The Solar Energy Advantage Program” began in 2007 in partnership with the Massachusetts Renewable Energy Trust, State Street Bank and Borrego Solar. At the heart of the initiative, BCC will install 5,000 rooftop solar panels at five affordable housing facilities serving 3,000 residents across the Commonwealth of Massachusetts. The Solar Energy Advantage Program is the first phase of BCC’s Energy Advantage Program, established to finance energy conservation, energy efficiency, renewable energy and environmental improvements for affordable housing.
“We are pleased and proud to have served as BCC’s legal team on this project,” said Mark Barnett, co-chair of the firm’s Energy Technology and Renewables group. “Through its Solar Energy Advantage program, BCC is enabling tenants of affordable housing units and the Commonwealth at large to benefit from advancements in solar energy technology and financing.”
Once complete, the solar installations in will provide one megawatt of solar photovoltaic capacity and annually will generate almost a million kilowatt hours of clean, renewable electricity, projected to be an increase of roughly 17% in Massachusetts’s solar capacity. In addition, the Commonwealth may realize a reduction of 1.2 million pounds of carbon dioxide emissions per year, or 12,000 tons over 20 years.
Boston Community Capital is a community development financial intermediary whose mission is to create and preserve healthy communities where low-income people live and work. BCC invests in projects that provide affordable housing, jobs, needed goods and services and new opportunities for people who have been locked out of the economic mainstream. The capital that Boston Community Capital invests comes from socially concerned investors and donors including individuals, religious organizations, banks, foundations and corporations.
About Foley Hoag LLP
Foley Hoag LLP is a leading national law firm in the areas of dispute resolution, intellectual property, and corporate transactions for emerging, middle-market, and large-cap companies. With a deep understanding of clients’ strategic priorities, operational imperatives, and marketplace realities, the firm helps companies in the life sciences, high technology, energy technology, financial services and manufacturing sectors gain competitive advantage. 225 lawyers located in Boston, Washington, and the Emerging Enterprise Center in Waltham, Massachusetts join with a network of Lex Mundi law firms to provide global support for clients’ largest challenges and opportunities. For more information visit www.foleyhoag.com.
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Energy Technology and Renewables