Deal fast tracks large portfolio of community solar development in Northeast
LOUISVILLE, COLO. (October 31, 2017) - Global energy developer ENGIE, a leader in the world's transformation to a low-carbon energy economy, and Clean Energy Collective (CEC), the nation's leading community solar developer and solutions provider, are joining forces to accelerate regional scaling of the community solar market in the Northeast U.S. and broaden access to the benefits of affordable, local, clean power generation to a significantly wider customer base.
"Our relationship with ENGIE, coupled with our unmatched ability to deliver localized, market-specific community solar solutions on a national scale, makes the possibilities for community solar nearly limitless," said CEC's founder and CEO, Paul Spencer. "No two companies are better positioned to accelerate broad and equal access to affordable clean energy. We are pursuing dozens of projects in five states and this will pave the way for exciting new innovations in the rapidly-expanding community solar industry."
The combined venture leverages the strength of ENGIE's customer base and balance sheet with CEC's proven expertise in creating markets, developing projects, and managing construction and operations of solar assets. CEC will leverage its Community Solar Platform, proprietary technology enabling successful community solar program design, integration and execution. This joint venture paves the way to scale access faster than would be possible through either company's individual efforts. The companies will jointly own and operate the community solar projects pursued through the joint development agreement.
A global leader in developing energy assets, ENGIE is one of the largest retail electricity providers in the United States, proudly serving over half of Fortune 100 companies, and customers in New England since 2003. ENGIE is a long-standing and well-regarded brand, recognized by customers and utilities for its transparency, financial strength and process efficiency. As the prevailing community solar market leader, CEC brings an unmatched track record of developing, subscribing, and operating successful community solar projects across multiple markets, enabled by its powerful and widely-adopted proprietary software suite that fully integrates front and back-end services including customer enrollment, facility and data management, billing integration and long-term customer engagement.
"As market innovators, CEC has proven community solar is an effective tool in meeting the growing demand for clean energy. ENGIE is excited to partner with CEC as the leader in this space, delivering on community solar's potential in the Northeast and beyond," said Vikram Kulkarni, vice president of solar for ENGIE Resources. "We are seeing increasing demand for clean generation in New England, and we commend our customers, regulators, and grid operators as we all promote our clean generation agenda," Kulkarni added.
The hundreds of thousands of megawatt hours of clean power that will be generated by the ENGIE/CEC joint development agreement portfolio of community solar projects will deliver substantial economic and environmental benefits. Thousands of residential, commercial, and municipal participants will save on their electricity expenses. Local communities will benefit from engineering and construction jobs, lease payments and tax revenues. The locally-sited facilities enhance the grid by adding power generation close to consumption, reducing power losses from long transmission lines. The additional renewable capacity also supports the low-carbon agendas of the host states.
ENGIE manages a range of energy businesses in the United States and Canada, including electricity generation and cogeneration, natural gas and liquefied natural gas (LNG) distribution and sales, retail energy sales, and comprehensive services to help customers run their facilities more efficiently and optimize energy use and expense. Nearly 100 percent of the company's power generation is low carbon emissions or carbon free. Nationally, ENGIE is the fourth -largest non-residential retail electricity supplier, serving customers in 14 markets. Globally, ENGIE is present in 70 countries and employs 153,090 people, including 1,000 researchers in 11 R&D centers. For more information, please visit www.engie-na.com, @ENGIENorthAm, and www.engie.com.
About Clean Energy Collective
Clean Energy Collective (CEC) is the nation's leading developer of community solar solutions. CEC founded the model of delivering clean power-generation through medium-scale solar PV facilities accessible to all utility customers. Since establishing the country's first community-owned solar array near El Jebel, Colorado in 2010, CEC has built or has under development more than 175 RooflessSolar™ projects with 33 utility partners across 16 states, serving thousands of customers, and representing more than 400 MW of community solar capacity. CEC is also the leading provider of community solar software and services to the utility, development and financial industries through its Community Solar Platform™. Visit www.cleanenergyco.com for more information.