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Section 1. Company History
Company Summary
1. Description of the Company
Green Development, LLC is owned by Mark DePasquale and is a Rhode Island
Limited Liability Company formed in 2014 with Wind Energy Development, LLC,
starting in 2009. Green specializes in the development, construction, finance,
ownership and operation of renewable energy projects in Rhode Island. Green has
created one of the largest and most diverse renewable energy portfolios in Rhode
Island over the past decade; providing numerous municipalities, quasi-public agencies,
academic institutions, school departments and non-profit organizations the benefits of
clean and affordable electrical savings from its wind and solar projects. Green's
headquarters is located at 2000 Chapel View Blvd. Suite 500, Cranston, Rhode Island,
02920.
2. Certificate of Good
Standing Green’s 2021 RI Certificate of Good Standing is included in Appendix 1.
3. Legal Structure Green is a Rhode Island Limited Liability Company owned by Mark DePasquale,
formed in 2014.
4. Number of Employees Green presently employs approximately 85 full time employees in Rhode Island.
Nearly all these employees are RI residents.
5. General Liability Insurance
Limits
Green has a comprehensive insurance plan which includes General Liability Insurance.
A copy of this and the specified limitations is located in Appendix 1,
6. Financial Condition of
Prosper Please see Section 1 for a description of Green’s financial capabilities.
7. List of Members of the
Project Team
Project Team members are listed below. Additional information is provided within this
section and in Appendix 1.
Mark DePasquale (Founder & CEO)
Kevin Hirsch (CFO)
Hannah Morini (Director of Business Development)
Kevin Morin (Director of Project Development & Engineering)
Matthew Ursillo (Director of Project Management)
Matthew Sullivan (Business Development Analyst)
John McCauley (Director of Sales)
8. Team Leader
Hannah Morini: Director of Business Development.
Address: 2000 Chapel View Blvd. Suite 500, Cranston, RI, 02920
Email: hm@green-ri.com,
Direct Line: 401-250-5075; Cell: 401-267-8221
9. Subcontractors Green self-performs the majority of its work and has a few specialized organizations
that would be subcontractors for these Projects, identified in Section 1.
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Section 1. Company History
Rhode Island Project Experience
Green has developed and constructed nearly 75 MW of renewable energy projects in Rhode
Island, including 50 MW specifically delivering renewable energy savings for Rhode Island
municipalities, quasi-public entities, academic institutions and affordable housing authorities.
Green owns nearly the entire portfolio of completed projects, simultaneously serving as asset
manager. Green will be the main point of communication for the clients, rather than selling the
project to a distant organization which would sub-contract management services. A selection of
Green's portfolio and project references can be in a table on the following pages. Green is the
leader and trailblazing developer of renewable energy in the State. Here are some examples:
• Successfully delivered over 375 million kWh to Rhode Island customers.
• First developer in New England to complete the applications for the RI Public Utilities
Commission for a group of separate projects that were singularly viewed as an ISO-NE full
market participant.
• First large-scale projects installed under the RI Distributed Generation Contracts Program and
the Renewable Energy Growth Program.
• First large-scale virtually net metered project in the state.
• First RI developer to successfully complete the ISO-NE OP 14 asset registration process.
• First multi-municipal collaborative in the state.
Green has the unique ability to provide a wide range of project services due to its full-time inhouse
team of professional staff and is a registered RI residential/commercial contractor. This
includes not only a construction team who physically builds renewable projects, but also site
development experts, engineers, asset managers and operation and maintenance personnel, all
complemented by a highly experienced management team. No other company actively possesses
the ability to provide these services in the manner that Green does, right here in Rhode Island.
When site development and construction are involved, Green conducts all site and utility work,
often working with National Grid to interconnect large projects. Green is a RI General Contractor
and owns a full service of excavation equipment from excavators, dump trucks, yukes, backhoes,
tree clearing equipment, drills, pile drivers, etc. Green employs a full-time team of experienced
and well-trained equipment operators.
Green 's management team procures all system components and materials to directly control
schedule and quality control. This strategic selection process of major materials has an emphasis
on components that are of high quality with long-term reliability and maintenance efficiency.
Green intends to own and operate the projects, so we are uniquely focused on long-term value
and the projects' performance, contrary to many other well-known Rhode Island renewable
energy developers that only seek short-term ownership and involvement.
From a design perspective, Green has engineers on staff who evaluate and monitor promising
sites for potential projects. Green's engineering department designs layouts, and construction
plans, both inhouse and with help from outside firms for unique projects. Green has electrical
engineering performed in-house and stamped by outside consultants.
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Section 1. Company History
Projects Completed, Under Construction or in Late Development Stage in RI
Project Name Location MW DC Technology Ownership Offtaker(s) COD
NK Green N. Kingstown 1.5 Wind Green National Grid 2012
Coventry (Ten
Turbines) Coventry 15 Wind W. Warwick,
NBC, Green W. Warwick, NBC, National Grid 2016
WED Portsmouth I Portsmouth 1.5 Wind Green Portsmouth/YMCA 2016
Kingstown I Richmond 5.3 Solar Green NBC 2017
WED Stilson Solar Richmond 2.4 Solar Green National Grid 2017
Johnston (Seven
Turbines) Johnston 21 Wind Green
National Grid, RICCA, NBC, Scituate,
East Providence, Affordable
Housing
2018
WED GW Solar Lincoln 3.6 Solar Green YMCA, Central Falls 2018
WG Victory W. Greenwich 2.2 Solar Green JWU 2018
GD Rich.
Buttonwoods Richmond 1.6 Solar Green JWU 2018
SK Rose Hill S. Kingstown 1 Solar Green National Grid 2019
Hopkinton Main Hopkinton 12.6 Solar Green Affordable Housing Authorities,
JWU, & National Grid 2020
Glocester White
Oak Glocester 2.2 Solar Green JWU 2020
WED Coventry 7 Coventry 4.2 Solar Green National Grid 2020
West Shannock Richmond 0.25 Solar Green National Grid Q2 2021
WED Coventry 8 Coventry 1 Solar Green Confidential Q2 2021
GDIM 1-4 North
Smithfield 49.3 Solar Green Open Q4 2021
Providence (3
Turbines) Providence 4.5 Wind Green National Grid Q4 2021
West Main Middletown 3 Solar Green National Grid Q1 2022
Scituate Ave Johnston 4.7 Solar Green National Grid Q4 2021
Warren Birch
Swamp Warren 1.4 Solar Green Town of Warren Q2 2022
Nooseneck I & II West
Greenwich 27.5 Solar Green Open Q4 2022
Tiverton Brayton II
& III Tiverton 16 Solar Green Open Q2 2022
Project Status MW DC
Complete 74.35
In Construction 87.25
In Development 120.4
Total 282
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Section 1. Company History
Additional Company Capabilities
Green has an extensive and knowledgeable group of partners to provide the full range of services
required to provide a turnkey solution. The ongoing collaboration with these seasoned
professionals lends years of experience to the Green team. Green serves as the Engineer Procure
Construct (“EPC”). Contractor on its projects, generally self-performing all site work unless,
volume requires subcontracting. Green typically subcontracts all electrical work to licensed
electrical contractors. Green controls all phases of the Projects, which ensures the Projects will be
completed per specification, in a responsible manner and delivered on time to its customers.
Below are some anticipated primary subcontractors for the Projects on Town-owned property.
Subcontractor: Fuss & O’Neill
Fuss & O’Neill is a well-known, well-established environmental solutions organization that has a
ranging scope of capabilities. Their experts specialize in industries such as community planning,
construction, energy, environment, facility, infrastructure and manufacturing planning. Fuss &
O’Neill employs over 300 staff and have locations across the United States.
Subcontractor: Closure Management, LLC
Kip Foley, Founder and President of Closure Management, LLC has over 35 years of experience
managing environmentally impaired properties for both public and private clients throughout
New England and New York. Kip’s organization was recently involved with remediation
activities at the former Cranston Sanitary Landfill, where his organization performed landfill
closure services and utilized over one-million tons of BUD material. Prior to establishing Closure
Management, Kip served as president at Cover Technologies, Inc. for a quarter-century where he
was an industry trailblazer in the development and application of BUD materials in landfill
closures.
Subcontractor: Mass. Electric Construction Co. (MEC)
MEC is one of the nation's premier electrical contractors. MEC is a leader in providing complex
and large-scale electrical construction and maintenance services. Clients include those in power
& energy, transportation, industrial and infrastructure markets across North America. They are a
leader industry leader in rail systems installations, with over $3 billion in transit and rail work
completed. They focus on Safety - Nobody Gets Hurt - and exceeding client expectations by
meeting or beating project schedules and budgets.
Financial Capacity
Green is regional leader in renewable energy in New England, with over 69 MW of owned and
operating wind and solar projects and 55 MW currently under construction, with future projects
currently in active permitting totaling 128 MW. The Project Finance team at Green has deep
renewable energy financial expertise, having successfully closed on hundreds of transactions
across the US over the past 12 years.
Developing renewable energy projects requires significant financial expertise and bandwidth.
Each project requires a combination of debt, project equity and tax equity. Green has extensive
experience in this financial arena and has the financial wherewithal to quickly deploy sponsor
development capital and bring projects to fruition with company equity. Locally, Green has
financed more renewable energy projects in Rhode Island than any other developer.
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Section 1. Company History
Green has established relationships with multiple local, regional and national banks on
construction financing/permanent financing vehicles that have complemented Green’s own equity
to provide the capital required for the development, and construction of our renewable energy
assets. Green has several, committed tax equity partners who have the appetite to fully utilize the
tax benefits generated from the assets. This allows Green the flexibility to transact quickly and in
a variety of tax equity investment structures, including partnership flip and sale-leaseback
transactions, to best suit the needs of the project.
Green has successfully developed, constructed and closed on a portfolio in excess of $280 million
of tax equity transactions and has secured over $187 million in bank financing for the existing
portfolio. Through these established vehicles and our previous finance track record, Green will
have no issue providing development and construction financing to ensure a successful project
completion.
As an EPC with experience on large commercial projects, Green has the ability to self-perform all
construction work, providing maximum efficiency throughout the construction process and
eliminating costly markup and third-party contracting delays. Green also maintains relationships
with equipment suppliers and subcontractors that include favorable credit and payment terms,
saving further on construction financing costs.
Additional evidence of support and financial capacity can be provided upon shortlist selection.
Green has an excellent insurance package and will gladly meet any requirements of the Town.
Green Development, LLC is the top EPC installer in Rhode Island, with over 19 MW installed in
2020. See the recent ranking from Solar Power World:
https://www.solarpowerworldonline.com/2021-top-rhode-island-solar-contractors/.
With over 85 employees and growing, we are in a leading position to successfully develop,
construct and operate these projects.
Upon shortlist selection, Green is prepared to meet privately with the town to demonstrate its
financial capacity and wherewithal to ensure that this project is completed successfully.
Green Development, LLC would be the development company for the project and the completed
project would be owned by an affiliate of Green Development, LLC. Both Green Development,
LLC and the project ownership entity are owned 100% by Mark DePasquale.