Principal Solar acquires 3.5MW solar project in US

Principal Solar (PSI) has acquired a 3.5W solar project from SunGen and R&D Solar which will be located in Andover, Massachusetts, US.

The project which was originally developed by Talmage Solar Engineering will produce clean electricity which will be fed into the national grid’s substation in the region.

PSI Business Development executive vice president R Michael Martin said the company is working to build the distributed solar utility with its partners.

"Our partners, R&D and SunGen, have developed an excellent project that we are ready to bring on-line in 2013," Martin added.

Talmage Solar Engineering chief financial officer Kale Inoue said the company will work with PSI and construct the project.

"The site is perfect and a solar farm is by far the best use for this land," Inoue added.

Principal Solar is expecting to begin the construction work of the project in the second quarter of 2013 and bring it online.

With the current project acquisition, the company has expanded its presence in New England, a region of six US states namely Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut.

Las year, PSI worked with Talmage to acquire one solar installation each in Massachusetts and Maine.

US-based Principal Solar is a publicly traded solar energy company executing a roll-up strategy to create a distributed solar utility.