BlueWave Solar Signs Joint Venture Agreement with Laketricity, a Ciel & Terre Entity, for Future Floatovoltaics Projects in Massachusetts

BlueWave Solar, a leading Northeast-based solar and energy storage developer, announced today it signed into agreement a joint venture with Laketricity, a company from Ciel & Terre, a pioneer in the floatovoltaics industry, for future projects in Massachusetts with intent to expand throughout the Northeast region. The agreement makes BlueWave Solar Laketricity's first New England partner. With over 155 megawatts (MW) of solar projects developed to-date throughout the Northeast, this partnership with Laketricity also marks BlueWave Solar's entrance into the floatovoltaics space.

Floatovoltaics, or floating solar arrays, address a global need to produce clean energy in efficient ways that also save common greenfield land. The future projects are especially important in areas like Massachusetts, where building on man-made ponds and reservoirs solves land use problems and ensures no disruption to the state's terrestrial habitats while reducing energy costs and bringing clean energy to local businesses and residents.

"We are thrilled to work with the world's leading floatovoltaics provider to bring floatovoltaics to New England," said John DeVillars, Co-Founder and Chairman of BlueWave Solar. "BlueWave is pioneering dual-use agrivoltaics and setting high ecological standards for sustainable site development and management. Partnering with Laketricity represents another step in our efforts to partner with those who share our core environmental protection values."

BlueWave Solar is an expert in dual-use solar development, or agrivoltaics, a project design model that allows agricultural production and solar to coexist on the same space. This expertise, coupled with Laketricity's innovation in floating solar rigs and technology, will bring unique solutions for the state of Massachusetts to further its clean energy goals.

"Partnering with BlueWave is a natural fit for Laketricity as we combine the respective strengths and experience of our teams to develop a sizeable portfolio of floating solar projects in New England," said Alexis Gaveau, CEO of Ciel & Terre and President of Laketricity USA, Inc. "Our joint venture accelerates the deployment of smart solutions to positively integrate renewable energies in the local environment. We look forward to implementing these projects in partnership with such a local expert that shares our human & environmental values as well as growing the scope of our joint venture in the years ahead."

Ciel & Terre has installed over 230 floatovoltaic projects globally, and 21 projects specifically in the U.S. with over 162 megawatts-peak (MWp) power. The future projects to come of the partnership, beginning in Massachusetts with intent to expand throughout the region, seek to position BlueWave Solar and Laketricity as floatovoltaic leaders in the Northeast while contributing to clean energy goals and maintaining valuable land in the areas they will operate in.

As a Certified B Corporation, BlueWave Solar strives to use the power of business to solve social and environmental issues, holding itself to the highest standards of transparency, performance and accountability while remaining committed to protecting the planet and positively impacting the lives of others.

About BlueWave Solar
BlueWave Solar is on a mission to revolutionize energy with simple, powerful solar solutions. As a pioneering solar developer, BlueWave has developed and sold more than 155 MW of solar projects to date. As built, these projects collectively generate enough solar energy to avoid roughly 119,490 metric tons of carbon emissions annually. A certified B Corp, BlueWave Solar has received national recognition for its work to protect the planet, including being named the Clean Energy Company of the Year in 2018 by the Northeast Clean Energy Council, one of the top 100 Impact Companies in the United States for each of the last two years as rated by Real Leaders Magazine, and a leading growth company by Inc. Magazine and the Boston Business Journal.

About Laketricity
Laketricity, the development arm of the Ciel & Terre, is fully dedicated to C&I and utility scale FPV projects development. The company ambition is to promote and accelerate solar projects development taking into account environment constraints and biodiversity by providing innovative and customized solutions. Laketricity is a company from Ciel & Terre, a floating solar expert that has developed the first floating solar system in 2011 : Hydrelio®. With Ciel & Terre's experience and know-how, Laketricity has gathered a large and reliable technical background, finding the best solutions to develop all type of solar projects. Since 2013, the group has currently installed 230 project in more than 30 countries which represent over 575MWp.