Connecticut Solar Company Awarded ZREC/LREC Grants

Press Release | Middletown, CT
July 18, 2012

Greenskies Renewable Energy LLC, based in Middletown, Connecticut, has won eight ZREC (zero-emissions) energy program contracts.

The ZREC/LREC program was created by last year’s landmark energy reform legislation (Public Act 11-80) to foster clean energy projects across the state at the lowest possible cost to ratepayers. The program is administered by Connecticut Light & Power and United Illuminating.

Under the ZREC/LREC program, the eight contracts awarded to Greenskies provide the company with 15-year agreements for the payment of a set price per megawatt hour (MWh) of output in the form of Zero-Emissions Renewable Energy Credits (ZRECs). The selection of Greenskies Renewable Energy as a recipient of the ZREC contracts illustrate their commitment to produce zero-emissions renewable electricity in an economically sound manner, helping to maximize the amount of in-state economic activity generated by the program.

“We are gratified to be chosen for these grants,” said Mike Silvestrini, Co-founder and President of Greenskies. “Our goal is to provide clean, renewable energy at the lowest possible cost to ratepayers and this funding helps us move toward that goal.”

Greenskies’ bids focused on covering the cost of buying and installing panels for several Wal-Mart stores throughout the state. The awards also include a ZREC contract for a power agreement with the City of New Britain.