Expanding Sustainable Energy Reach in New York
RIC Energy, a global independent renewable energy developer, has successfully sold three photovoltaic plants, totaling 20 MW, to Luminace, a decarbonization-as-a-service solutions provider owned by Brookfield. The facilities are strategically located in the service territories of New York State Electric and Gas (NYSEG) and National Grid in upstate New York.
Advancing Clean Energy Goals
The photovoltaic plants are anticipated to supply 100 percent clean energy to over 5,000 homes enrolled in community solar programs. The collaboration with Luminace aligns with New York State’s sustainability goals and is set to have a significant economic impact on Chautauqua and Cortland Counties. The total investment in these projects is expected to exceed $50 million.
Strong CEO Endorsements
Jonathan Rappe, CEO of RIC Energy North America, expressed enthusiasm, stating, “We are excited to be working towards the sustainability goals of New York State and making a significant economic impact.” He highlighted the creation of sustainable jobs and the expansion of the local tax base in the mentioned counties.
Luminace’s Strategic Expansion
Luminace, through this acquisition, has expanded its footprint in New York, acquiring projects in Chautauqua and Cortland Counties. Brendon Quinlivan, Luminace’s CEO, emphasized the positive impact on residents and businesses in central NY. This move further strengthens Luminace’s commitment to clean and renewable solar energy.
Global Reach and Continued Growth
José Luis Moya, Global CEO of RIC Energy, stated, “This endeavor underscores our commitment to geographic diversification and technological innovation.” The RIC Energy group has a global presence across four continents, with a developing portfolio of 20,000 MW in photovoltaic, green hydrogen, storage, and biogas projects.
This successful transaction follows RIC Energy’s recent sale of three plants totaling 15.5 MW in upstate New York. The company’s expanding presence in New York, Maryland, Texas, and California positions RIC Energy as a leading independent power producer in the U.S. market.
Source：businesswire.com
