BlueWave, a leading solar and battery storage developer, owner, and operator in the United States, has unveiled its 2023 Impact Report, showcasing impressive project development achievements and significant corporate contributions throughout the year. Building upon its previous successes, BlueWave has developed 70 projects totaling 217 megawatts (MW) of solar by the end of 2023. These projects, once operational, are projected to avoid 114,870 metric tons of CO2 annually, equivalent to removing over 24,900 cars from the road.
2023 marked a pivotal year for BlueWave as it transitioned from a ‘Dev-Flip’ model, where projects were sold before construction began, to becoming an owner-operator. This transformation was enabled by its partnership with Axium Infrastructure, a move that has allowed BlueWave to take a more active and long-term role in its projects. As an owner-operator, BlueWave’s involvement extends beyond the issuance of a Notice to Proceed (NTP) for the entire lifecycle of each site. Currently, BlueWave owns and operates two solar arrays in Palmer, MA, totaling 10.6 MWDC, completed in 2023, with additional fully owned projects in the pipeline. Moreover, BlueWave is actively developing new solar projects in 11 states, with an estimated 468 MW in development. Several of these projects are currently under construction and expected to be operational in 2024.
To support its long-term partnership and management of these new projects, BlueWave has welcomed 31 new team members with expertise in engineering, asset management, sustainability, operations, and project execution. “We’re more focused than ever on growing our pipeline of solar and storage projects and continuing to use innovative development styles such as agrivoltaics to support and protect the planet,” said Trevor Hardy, CEO and Co-Founder of BlueWave. “Becoming an owner-operator allows us to have even more involvement for the duration of the project lifecycle. With this arrangement, we maintain direct connections with our landowners and farming partners to ensure projects exceed expectations and realize benefits for the community and the natural environment.”
In addition to its solar development efforts, BlueWave has made significant strides in transforming energy usage by integrating battery storage technology as a key component in its projects. By deploying battery systems alongside solar arrays, BlueWave’s projects can charge directly from the electric grid during periods of low demand and dispatch energy during peak demand, accelerating the transition away from reliance on greenhouse gas-emitting generation sources. As of 2023, BlueWave is actively developing 1,479 MWDC of energy storage. The company has secured sites in four states for future storage projects, and nearly half (47%) of its solar projects currently under development or construction will include a battery energy storage system (BESS). BlueWave’s commitment as a long-term owner-operator ensures that these projects will be adapted to continually evolve with the electric grid and meet the evolving needs of energy consumers.
Beyond its project development activities, BlueWave has further solidified its commitment to being a force for good by becoming a Public Benefit Corporation in 2023. This designation legally requires the company to pursue a public benefit based on a solid foundation of social and public good. Every aspect of the organization operates responsibly and sustainably, as intended by company leadership and mandated by law. Furthermore, BlueWave and select employees have actively engaged with industry partners, providing valuable input to the broader industry. In 2023, BlueWave proudly became a member of the Massachusetts Farm Bureau Federation, demonstrating its support for preserving and expanding agriculture, including through agrivoltaics and dual-use solar projects. BlueWave’s Chief of Staff, Mark Sylvia, was elected to a two-year term on the Coalition for Community Solar Access (CCSA) Board of Directors and was also appointed to Massachusetts’ Commission on Energy Infrastructure, Permitting and Siting (CEISP) to contribute to the development of recommendations aimed at accelerating the responsible deployment of clean energy infrastructure in the Commonwealth. Additionally, BlueWave’s Senior Director for Policy and Government Affairs, Elizabeth Curran, was re-elected to a three-year term on the New York Solar Energy Industry Association (NYSEIA) Board of Directors. This board brings together industry experts dedicated to achieving significant, long-term, and sustainable growth of solar energy in New York State.
Extending its focus beyond clean energy projects, BlueWave has also worked internally to assess its social impact as a business. Through a partnership with YW Boston, BlueWave developed a DEI Action Plan outlining goals related to equitable policies for 2023 and beyond. To ensure accountability and progress on these crucial efforts, BlueWave established a new DEI Committee that will implement new recruitment strategies to attract a more diverse talent pool to the clean energy industry and provide training programs focused on cultural competence. Continuing its commitment to civic engagement, BlueWave also contributed at the local and national level through charitable giving and team volunteerism, with team members dedicating over 500 hours to various organizations.
BlueWave’s mission is to protect our planet by transforming access to renewable energy. As a pioneering renewable energy company that develops and owns solar and battery storage projects, BlueWave has a long track record of success and is developing several gigawatts of solar and battery storage projects throughout the United States to ensure our grid is reliable and efficient in a clean energy future. BlueWave is proud to be a certified B Corp, recognized by B Labs as “Best for the World” in Governance and was recently awarded Member Company of the Year by the Solar Energy Business Association of New England.
Axium Infrastructure (comprised of Axium Infrastructure Inc. and its affiliated entities) is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets. Axium Infrastructure had over US$8.5 billion in assets under management as of June 30, 2024, as well as approximately US$1.5 billion in co-investments. With offices in Montreal, Toronto, Vancouver, New York, and London, the firm leverages the expertise of a group of specialists with decades of experience in acquiring, developing, financing, operating, and managing infrastructure assets. The firm focuses on assets supported by robust market demand and under long-term contracts with creditworthy counterparties. Since 2010, the firm has invested in a diversified portfolio of over 265 infrastructure assets.
