BALTIMORE, March 7,
2024 /PRNewswire/ -- CI Renewables LLC ("CI"), a
leading independent developer and owner of large scale commercial
and industrial solar power facilities, announced today that it has
entered into an agreement with NJR Clean Energy Ventures (CEV), the
renewable energy subsidiary of New Jersey Resources (NYSE: NJR), to
jointly develop commercial and industrial solar power projects in
the mid-Atlantic region of the United States.
Since 2010, CI has specialized in developing commercial and
industrial scale solar power generation assets, with expertise in
engineering, construction, and operation for world class companies,
institutions and governments.
Joshua Smith, a Managing Partner
of CI said, "We are delighted to partner with NJR Clean Energy
Ventures to pursue the next stage in our development of large-scale
solar projects. CEV brings to CI a reliable and well capitalized
partner with a deep background of construction and operations of
solar projects."
"CI will be a strong partner for CEV," stated Robert Pohlman, Vice President-Corporate
Strategy, NJR Clean Energy Ventures and Energy Services. "Josh and
his team have an exceptional track record of both developing and
managing innovative solar projects through completion. CEV has
worked to foster and cultivate relationships with developers, such
as CI, that share a core focus of bringing the benefits of clean
energy to a growing number of customers, and this engagement
accelerates our geographic diversification strategy."
CEV is one of New Jersey's
largest solar owner/operators. With over $1.2 billion invested in solar projects across
six states, CEV maintains a portfolio of approximately 470 MW of
installed capacity, or enough clean energy to power 70,000 homes
and businesses annually.
ABOUT CI RENEWABLES LLC:
CI Renewables,
headquartered in Baltimore,
Maryland, develops and owns solar power projects providing
commercial and governmental entities as well as educational
institutions with significantly lower long-term electric costs
through solar power. Founded in 2019 by certain senior management
of KDC Solar LLC, CI purchased KDC
Solar from Diamond Castle Holdings, a New York-based private equity fund. Through
its subsidiaries, CI has successfully developed, built
and operated more than 30 solar projects (totaling more than 130
megawatts) in New Jersey,
Maryland, and Virginia and is currently developing more than
150 megawatts of solar projects in the Mid-Atlantic. For more
information, visit www.cirenew.com.
ABOUT NEW JERSEY
RESOURCES:
NJR Clean Energy Ventures
(CEV) is the renewable energy subsidiary of New Jersey
Resources, a Fortune 1000 company. CEV invests in,
owns and operates solar projects and provides residential and
commercial customers with low-carbon solutions. Since 2009,
CEV has invested over $1.2
billion in solar projects and today maintains 70 commercial
solar assets across six states and a portfolio of approximately
470 MWs of installed capacity. For more
information, visit www.njrcleanenergyventures.com.
MEDIA CONTACT:
CI Renewables
LLC
Email:
communications@cirenew.com
New Jersey Resources
Michael
Kinney
Phone: (732) 684-3234
Email:
mkinney@njresources.com
View original
content:https://www.prnewswire.com/news-releases/ci-renewables-llc-and-njr-clean-energy-ventures--form-solar-development-partnership-302082678.html
SOURCE CI Renewables, LLC