Sunlight Energy Investments has purchased 12 operating solar arrays in Ohio and Michigan from the project developer.
The arrays, with an aggregate rating of 9.4 MW DC, supply power to on-site school facilities. Their production is covered under direct, long-term fixed-price solar PPAs. The sale also provides Sunlight Energy, a Genie Energy subsidiary, with the right of first refusal on the developer’s future projects.
“We continue to leverage Genie’s strong balance sheet and low cost of capital to build our Genie Renewables business,” says Michael Stein, CEO of Genie Energy. “This acquisition, through our Sunlight Energy investment vehicle, is our first transaction involving operating solar assets and complements our growing pipeline of solar generation projects in various stages of development. We expect that this acquisition will be immediately accretive to our bottom line.”
“The long-term, stable cash-flows generated by this particular portfolio of solar generation projects are fairly representative of the attractive development and acquisition opportunities available across the solar generation industry. We look forward to putting more capital to work on both development projects and generating assets in the coming months,” says Nir Ashpiz, CEO of Sunlight Energy.
Sunlight Energy is a primary equity financing vehicle both for Genie-originated and third-party-originated commercial and community solar projects. Sunlight Energy’s initial capitalization has been provided by Genie Energy, which serves as the fund’s general partner. Third-party investors are invited to participate as limited partners in Sunlight Energy’s project equity.
The post Sunlight Energy Purchases 12 Solar Arrays in Ohio, Michigan appeared first on Solar Industry.
I encourage readers to check out this tongue-in-cheek ad for plant-based meat.
There is a maxim in marketing warning against “promoting the enemy line,” this is so clever, I can see where it could be quite effective.
As we all know, the GOP will stop at nothing to win the midterms, thus making it impossible to remove the sociopathic criminal from the White House.
But did any of us see this coming?
Macabre.
I just met a woman who’s been a flight attendant for Delta Airlines since the early 1990s, who laments that her company has been ruined by corporate greed, which has trashed so many other things in our lives.
As it turns out, the CEO makes more than $20 million per year, largely based on bonuses associated with cutting costs. “Now we have tray tables that don’t work and seatbacks that don’t recline, and nobody even thinks about fixing them.”
She went on, “This shift has been particularly obvious in the case of Delta, which, when I started with them, was known for its southern charm and the feeling of welcoming its passengers. Now, that gone. It’s like it never existed.”
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