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Keystone Power Holdings Moves to Expand into Virginia, Maryland and Maine

03 Mar 2021

Keystone Power Holdings, LLC (Keystone), a renewable energy developer/owner of solar facilities, announced its intention to expand into Virginia, Maryland and Maine. It recently opened an office in Richmond, Virginia. Keystone has already completed medium to large photovoltaic solar projects in the Carolinas, Illinois, Massachusetts, New York, and New Jersey. Keystone’s customers range from municipalities and non-profits to schools and universities (private and public) to large public corporations. 

“We are excited to be moving into new markets to offer solar energy to more clients while growing the company,” said William DePhillipo, co-founder of Keystone Power Holdings. “The company is well-positioned to take advantage of the favorable shifts in state policy in Virginia, Maryland and Maine. We continue to deepen our expertise in developing solar projects and look forward to building partnerships in these states.” 

The company’s municipal/non-profit segment has been successful with a focus on wastewater treatment plants. Solid credit, high electricity usage and ease of installation make these types of solar installations attractive for all parties. As an example, Keystone worked with the City of Freeport, Illinois to bring solar energy to its sewage treatment plant. The system, 1.165 MW DC in size, is installed onsite and connected to the plant. The project has been financed through a long-term power purchase agreement (PPA) with Keystone. Estimated savings are significant - projected to be just under a million dollars over the term of the agreement.   

Keystone is one of the leading solar companies for treatment plant providers. It has many of these projects already in operation, an additional two awaiting permission to operate and a further project signed for construction later this year. This growth demonstrates Keystone’s leadership within the municipal/non-profit segment and will allow it to serve its new customers well in Virginia, Maryland and Maine.   

“Municipal water and wastewater treatment plants are great clients for us. With electricity many times taking 40% or more of a plant’s operating budget, solar energy offers them an opportunity to reduce costs and have a positive environmental impact,” said Anthony Fotopoulos, co-founder of Keystone Power Holdings. “At the same time, it builds resiliency into the power grid and helps defend critical infrastructure against climate impact. We see this triple benefit (savings/environment/infrastructure) across our diverse customer base.” 

The company remains positioned to finance a broader range of projects than many others in the solar industry. Its investment fund, KPH Solar Farms Fund I, continues to provide repeatable financing for eligible solar energy projects (250 kilowatts to 10 megawatts), removing the burden of up-front investment for its clients. Established in 2017, the fund provides 100 percent of the initial debt, equity/tax equity and construction financing for Keystone’s projects, making resources available at a time when consistent funding is a challenge. 

Keystone Power Holdings |