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Renewable developer Green Lantern Solar has divested its Brighton Solar project in Vermont to investment firm Sea Oak Capital, according to a Jan. 15 press release. Financial details of the transaction were not disclosed.
The 500-kW project is sited on the closed portion of an operating family-owned gravel operation. Green Lantern said the project demonstrates the potential to transform otherwise “unproductive” land into a clean energy source.
The project serves nearby farms, the town of Brighton and the Newport Ambulance Service, a nonprofit regional ambulance service that covers 18 towns in three Vermont counties, the release said.
Brighton Solar is designed to help landowners achieve full compliance with land use permits, and provide “generational sources of income to landowners, support local businesses and revitalize underutilized spaces," said David Carpenter, Green Lantern Solar’s vice president of development and chief legal officer.
Green Lantern works with landowners to re-develop sites such as brownfields, landfills, quarries/pits/extraction sites and other challenging real estate, the company said.
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