RIC Energy Offloads 20 MW New York State Community Solar Projects to Luminace – SolarQuarter

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Credits : Business Wire

RIC Energy, a prominent independent renewable energy developer and producer, has finalized the sale of three photovoltaic plants to Luminace, a key provider of decarbonization-as-a-service solutions under Brookfield ownership. These plants, with a combined capacity of 20 MW, are strategically located within New York State Electric and Gas (NYSEG) and National Grid service territories in upstate New York.

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Expected to deliver 100 percent clean energy to over 5,000 homes participating in community solar programs, these facilities represent a significant step in sustainable energy provision. The total investment in these projects is anticipated to exceed $50 million dollars. Luminace’s acquisition includes RIC Energy’s Hanover II and Pomfret II projects in Chautauqua County, New York, as well as the Cortlandville project in Cortland County, New York. Brendon Quinlivan, CEO of Luminace, highlights the significance of this partnership, emphasizing its contribution to extending access to clean, renewable solar energy across central New York and expanding Luminace’s Community Solar asset network throughout the state.

“We are excited to be working towards the sustainability goals of New York State and making a significant economic impact in Chautauqua and Cortland Counties through the creation of sustainable jobs and the expansion of the local tax base,” said Jonathan Rappe, CEO of RIC Energy North America. “Additionally, we are pleased to announce our collaboration with the accomplished team at Luminace to expedite the advancement of these projects to the operational phase.”

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“RIC Energy’s current portfolio includes nationwide photovoltaic and energy storage projects at both the community and utility scale,” added José Luis Moya, Global CEO of RIC Energy. “By expanding our presence in New York, as well as Maryland, Texas and California, we not only contribute to the energy landscape in those states but also enhance the overall resilience and value of our portfolio. This endeavor underscores our commitment to geographic diversification and technological innovation, reinforcing our position as a leading independent power producer (IPP) in the U.S. market.”

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