Ci Renewables Llc And Njr Clean Energy Ventures Form Solar Development Partnership
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
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SOURCE CI Renewables, LLC
