NEWARK, NJ - Sunlight Energy Investments has expanded its renewable energy portfolio with the acquisition of a solar development project in Hamilton, Indiana, aimed at providing power to local schools.
The subsidiary of Genie Energy Ltd. (NYSE: GNE) purchased the project from the original developer, with plans to supply electricity to Hamilton Community High and Elementary Schools through solar power purchase agreements (PPAs).
This move follows Sunlight Energy's recent procurement of a 9.4 MW portfolio comprising 12 operational solar arrays serving educational facilities in Ohio and Michigan. The company, which operates as an equity financing vehicle for commercial and community solar projects, is backed by Genie Energy's financial strength and is actively seeking additional solar generation assets.
Nir Ashpiz, CEO of Sunlight Energy, stated that the Hamilton project is a strategic fit for their portfolio, which is focused on providing long-term, stable cash flows. The company is open to third-party investors joining as limited partners in project equity.
Genie Energy, known for its retail energy and renewable energy solutions, serves as the General Partner for Sunlight Energy, having funded its capitalization to date. The parent company's Genie Retail Energy division supplies electricity and natural gas to customers in the United States, while its Genie Renewables division delivers commercial, community, and utility-scale solar energy solutions.
It should be noted that the press release contains forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ from those projected. These statements are not guarantees of future performance, and the company disclaims any obligation to update them.
This news is based on a press release statement and reflects the ongoing efforts of companies in the energy sector to invest in renewable resources and support community infrastructure with sustainable power solutions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.