Agilitas Energy, an independent power producer specialising in energy infrastructure and storage systems, has confirmed the acquisition of a 12.5-megawatt solar project in North Smithfield, Rhode Island. The transaction, completed with a local developer, is part of a growth strategy to strengthen the company’s presence in the US renewable energy market. The deal represents a further step in building a portfolio focused on supplying electricity from alternative sources.
Planned deployment and benefits for consumers
The project has already received all necessary permits and construction is scheduled to begin in 2025. Commercial operation is expected by the end of 2026. Once operational, the plant is expected to produce nearly 16,000 megawatt-hours per year, equivalent to the annual electricity consumption of more than 2,500 Rhode Island homes. The facility will participate in the state’s Net Metering Credit (NMC) programme, which allows for 100% compensation of supply, distribution, transmission and transition costs for every kilowatt-hour fed into the grid.
This project benefits from a grandfather clause, having been developed before the state’s eligibility deadline. As a result, it will be compensated at the full net metering credit rate, while subsequent projects are subject to a 275-megawatt cap and reduced credit value. This feature increases the asset’s attractiveness for end users, primarily commercial, industrial, public or municipal entities operating within the Rhode Island Energy territory.
Certificates and additional revenue
In addition to revenues from net metering credits, the plant will also generate New England Power Pool (NEPOOL) Class I Renewable Energy Certificates, contributing to regional renewable portfolio standards. These certificates will provide an additional revenue stream for Agilitas Energy, strengthening the project’s long-term financial viability.
Barrett Bilotta, Chief Executive Officer of Agilitas Energy, stated that the integration of this project enables the company to consolidate its portfolio while supporting local grid reliability and the region’s economic growth. Agilitas Energy has also demonstrated its ability to accelerate project implementation, as shown by the deployment of Rhode Island’s first utility-scale electricity storage site in Pascoag.
The addition of this project is expected to support the state’s goal of achieving 100% renewable electricity by 2033, while enabling Agilitas Energy to optimise timelines and costs through its integrated independent power producer model.
