On July 7, Governor Martin O’Malley broke ground on a 20 MW,160-acre solar farm project located on the grounds of the Maryland Correctional Institution (MCI) in Hagerstown. Simply known as the Maryland Solar project, the project will create 125 construction jobs and at least three full-time, permanent jobs.
The Maryland Department of General Services conducted a competitive leasing process for the land and the solar project was awarded the lease for a term of 20 years. The project represents FirstEnergy (NYSE: FE)’s fulfillment of its renewable energy commitment pursuant to the negotiated settlement between FirstEnergy and the state as a condition of its merger with Allegheny Power. FirstEnergy Solutions has agreed to purchase the 20 MW output for 20 years under a long-term purchase power agreement. Over the term of the lease, First Solar (NYSE: FSLR) will pay nearly $460,000 in rent to lease the land from the state.
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