FESCO Energy (FESCO®) and District 40 (formally Frederick Towne Center Mall located on the Golden Mile) have entered into an exclusive agreement to develop a microgrid enabled resilient, renewable, sustainable energy project that includes 3MW +/ of solar power generation, 6MWH of battery storage and microgrid controls. The project will increase the operational capabilities of the entire 64 acre retail location. District 40 is located in the fastest growing county in Maryland, and will be a destination location that includes retail, restaurants, sports venues and entertainment retailers. As the Malls energy and resiliency partner, FESCO is integrating a hybrid "district energy" approach and structured financing into the redevelopment of District 40 that requires zero capital from the mall.
The project is in the engineering phase through April 2020 and our goal is to develop a project that not only dramatically decreases the carbon footprint, increases the use of renewable energy, stores renewable energy in environmentally friendly battery systems and also ultimately will be able to completely power the entirety of the property should conditions require it. Upon completion of a short due diligence phase, FESCO's investment in the project is an estimated $20 million and will take approximately 14 months to reach commercial operation.