Harborside Announces Planned Commercial-Scale Renewable Energy Microgrid Project at Salinas Production Campus

CANNANNEW REPORT

Harborside Inc. (“Harborside” or the “Company”) (CSE: HBOR), (OTCQX: HBORF) a California-focused, vertically integrated cannabis enterprise, today announced plans to install an onsite renewable energy microgrid that is expected to include 4.9 MW of solar panels and 6 MWh of battery storage tied to advanced system and load management controls (the “Project”) at the Company’s 47 acre production campus located in Salinas, California (the “Production Campus”). Upon its planned completion in the second half of 2022, the cutting-edge microgrid energy system is expected to produce approximately 8,600,000 kWh of electricity each year, which is enough clean renewable energy to offset up to 100% of the Company’s current power consumption at the Production Campus.   According to figures provided by the US Environmental Protection Agency’s greenhouse gas equivalencies calculator, the Project will negate approximately 6,095 tons of atmospheric CO2 emissions annually, which is the same carbon offset as approximately 11.7 square miles (7,467 acres) of forest and is equivalent to avoiding more than 15.3 million miles of passenger car driving each year. When complete, the Project is expected to cover approximately 10 acres of the Production Campus The battery storage system, in addition to reducing peak load demands, will pair with other on-site energy assets to provide multiple days of backup power, allowing Harborside to continue operations as normal and protect valuable inventory in the event of a disruption to the utility supplied power. The Project will be fully funded and installed by Scale Microgrid Solutions (“Scale Microgrid”), a vertically integrated distributed energy company.   The Company intends to enter into a power purchase agreement (the “Power Purchase Agreement”) with Scale Microgrid in the first half of 2022.  Once the Project is fully functional, the transactions contemplated by the Power Purchase Agreement are expected to immediately result in lower operating costs, with an estimated cumulative net energy…

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Source : Harborside Announces Planned Commercial-Scale Renewable Energy Microgrid Project at Salinas Production Campus

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