Construction is wrapping up on what’s being labeled Maine’s first multitown solar power project, a 10,500-panel array in Skowhegan that will offset nearly 85 percent of the electricity needs for five local governments and a school.

ReVision Energy has erected the 4-megawatt project to provide power to municipal buildings in Topsham, Rangeley, Dover-Foxcroft, Rockland and Vassalboro, in addition to the Vassalboro Community School.

A ribbon-cutting and tour, possibly featuring Gov. Janet Mills, is planned for Nov. 12 at the site, in a field at the corner of East Ridge Road and Route 2 in Skowhegan.

The project is valued by ReVision at nearly $7 million and is being financed through power-purchase agreements, in which private investors earn income and receive tax credits. The communities have no upfront costs, but have a contract to buy locally produced power at below-market prices.

The solar array has an estimated lifespan of 40 years and is designed to produce roughly 4.9 million kilowatt-hours of clean energy each year. It also will offset more than 5 million pounds of carbon dioxide emissions annually, according to ReVision, equivalent to taking 741 passenger cars off the road.

ReVision Energy is an employee-owned solar energy company located in Liberty and Portland, with other offices in New Hampshire and Massachusetts.

A ReVision spokeswoman said the array is owned by an affiliate of Aligned Climate Capital, an investment firm focused exclusively on clean energy and other sustainable assets.