Strategic acquisition will support Rhode Island’s clean energy goals

July 24, 2025 08:00 ET | Source: Agilitas Energy

WAKEFIELD, Mass., July 24, 2025 (GLOBE NEWSWIRE) -- Agilitas Energy, a leading developer and operator of renewable energy and energy storage systems, today announced the acquisition of a 12.5-megawatt (MW) solar project located in North Smithfield, Rhode Island, from a local developer. This acquisition marks another significant step in Agilitas Energy’s mission to add resilient and clean power solutions across the United States.

The project is fully permitted, with construction slated to begin in 2025 and commercial operation expected by the end of 2026. Terms of the transaction were not disclosed.

Once operational, Agilitas Energy’s solar project is projected to generate approximately 16,000megawatt-hours (MWh) of clean electricity annually, enough to power over 2,500 Rhode Island homes. The project will participate in Rhode Island’s Net Metering Credit (NMC) program, providing credits that offset 100% of supply, distribution, transmission and transition charges for each kilowatt-hour produced. Because development began before the state’s eligibility deadline, the project is grandfathered under Rhode Island’s original rules, making it eligible for the full 100% credit value. Projects developed after the cutoff face a 275-megawatt cap and receive reduced value credits, making this asset particularly attractive to off-takers. These credits will be sold to commercial, industrial, public or municipal customers within the Rhode Island Energy territory, offering them long-term energy savings and price stability.

In addition to net metering revenues, the solar project will generate New England Power Pool (NEPOOL) Class I Renewable Energy Certificates (RECs), contributing to the region’s Renewable Portfolio Standards and providing an additional revenue stream for Agilitas Energy.

“In an era where tariffs and policy shifts are reshaping the clean energy landscape, acquiring this project underscores Agilitas Energy's commitment to navigating these challenges head-on and strengthening energy infrastructure in whatever way we can,” said Barrett Bilotta, CEO of Agilitas Energy. “By integrating this project into our portfolio, we not only reinforce our commitment to establishing resilient energy infrastructure but also contribute to local grid reliability and economic growth. This move exemplifies our ability to adapt and lead in a dynamic industry landscape.”

By acquiring this project, Agilitas Energy is not just expanding Rhode Island’s solar capacity; it’s accelerating the state’s journey toward its 100% renewable electricity goal by 2033. Leveraging its capabilities as a fully integrated Independent Power Producer (IPP) that owns and operates its investments, Agilitas Energy is able to streamline project timelines and reduce costs to ensure faster deployment of clean energy solutions. Agilitas Energy’s proven track record in rapidly bringing projects online, such as Rhode Island's first utility-scale battery storage facility in Pascoag, demonstrates its ability to navigate complex regulatory landscapes and deliver clean energy solutions efficiently.

For more information about Agilitas Energy and its projects, please visit https://agilitasenergy.com/.

About Agilitas Energy
Agilitas Energy is a leading independent power producer (IPP) in energy infrastructure and storage with a mission to propagate reliable energy on a national scale. As the largest integrated developer, builder, owner and operator of energy storage and solar PV systems in the northeastern U.S., Agilitas Energy specializes in distributed energy solutions, and is differentiated through its vertical integration managing the entire end-to-end lifecycle of its projects from greenfield development, through engineering, construction and operation. Its projects deliver predictable, cost-efficient, energy for off-takers, utilities and municipalities. The company has more than one gigawatt (GW) of renewable energy and energy storage projects in operation and in its pipeline comprised of 110 projects across the U.S. and Puerto Rico. To learn more, please visit: https://agilitasenergy.com/.

Contact
Alex Banat
agilitasenergy@v2comms.com