Courtesy / Gorham Savings Bank
Steve deCastro, left, with Daniel P. Hunter
July 8, 2022
With solar installation, Gorham Savings touts 'carbon neutral' designation
Courtesy / Gorham Savings Bank
At the opening of Gorham Savings Bank's solar array, from left, Alden Joy, facilities director for the bank; Kevin Jensen, economic development director for the town of Gorham; Carolyn Eyerman, Gorham town planner; Nate Niles, director of development for ReVision Energy; Dan Hunter, former COO and CFO at the bank; Steve deCastro, president and CEO; and Tom Poirier, director of community development for Gorham.
Gorham Savings Bank, the eighth-largest Maine-based bank, said Friday its $1.1 million investment in solar energy is now fully operational.
The array at the Daniel P. Hunter Solar Farm, named for a recently retired executive at the bank, will "offset virtually all our electricity costs across 11 branches and several office locations," said Steve deCastro, the bank's president and CEO. "We're carbon neutral."
DeCastro said "increasing our reliance on clean power alternatives was clearly the right thing to do not just for the bank but for our environment and the community.”
The array, which is located behind to Gorham Savings' operations center at 10 Wentworth Drive in Gorham, will generate 1 million kilowatt-hours (kWh) annually. It is estimated to offset more than 1.1 million pounds of carbon annually, or the equivalent of 59,042 gallons of oil, over the next 40 years.
The project was designed by ReVision Energy and is made up of a 2,310-photovoltaic-panel, five-inverter array. Nate Niles, director of development at ReVision, spoke at the ceremony remarking that, “We could not be more thrilled to partner with Gorham Savings Bank on this project.”
The project's namesake, Daniel P. Hunter, who was CFO and chief operating officer, "was a strong proponent of sustainable energy and was the driving force behind this initiative," deCastro said.
Gorham Savings has 11 branches. With assets of $1.54 billion, it ranks No. 8 among Maine-based banks, according to the list published in the April 4 banking edition of Mainebiz.
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