– Luminace and Solops will co-develop distributed production projects in the commercial and industrial sector across the United States
– The agreement capitalizes on the growing demand for decarbonisation solutions
– Takes advantage of the combined capabilities of Luminace’s core decarbonization-as-a-service business and Solops core solar development business
NEW YORK, December 1, 2021 / PRNewswire / – Luminace, the North American decarbonization-as-a-service company of Brookfield Renewable and Solops LLC (“Solops”), a leading national solar developer in the commercial and industrial sector, today announces a co-development agreement a pipeline of distributed production projects over the next three years. Luminace will own and operate these projects once fully constructed.
Luminace and Solops are collaborating on the assessment and development of distributed generation projects of up to 300 megawatts, which will help customers meet their decarbonization goals and reduce operating costs. The first round of projects is expected to result in commercial operations in the third quarter of 2022.
âAs owners and operators of one of the world’s leading decarbonisation as a service companies North America with a portfolio of over 3,500 megawatts, we are delighted to position ourselves as a leading partner and solution provider for businesses and other institutions to achieve their decarbonization goals, âsaid Valerie hannah, CEO of Luminace. âWe are delighted to team up with Solops, leveraging our combined capabilities to expand our reach and scale to meet growing customer demand for decarbonization solutions. “
âOur pipeline continues to grow at an all time high and it was essential to find the right company to help meet that growth with an investment and underwriting approach that matched our project profiles,â said Ryan marrone, president of Solops. “The Luminace team brings not only this capability, but the intellectual capital of an in-depth knowledge base of the space and an established institutional foundation to complement the capabilities of our development, construction and funding team.”
Luminace is one of the leading fully integrated providers of decarbonization as a service in North America, by sponsoring an accessible, reliable and renewable energy infrastructure to enable the future of zero emissions. Luminace has a portfolio of over 3,500 megawatts of distributed energy resources, serving hundreds of educational, commercial, industrial, utility and municipal customers across North America. Luminance offers a full range of decarbonization solutions, including; solar power, energy storage, and energy upgrades and retrofits as well as grid resiliency options – all at no upfront cost.
Luminace is a Brookfield Renewable company. Brookfield Renewable operates one of the largest purely listed renewable energy platforms in the world.
Since 2010, the Solops team has collectively developed more than 1 GW of C&I solar projects in the United States in 29 states and has secured financings in excess of $ 1.5 billion. As a strategic resource partner, Solops enhances the value of its clients’ portfolios by improving cash flow, preserving rates of return, increasing business development pipelines and adding value to existing real estate assets by structuring projects with the main EPC companies, financial institutions and O&M managers.
Luminace Press Contact
Solops Press Contact
Telephone: +1 609 915 3685
Email: [email protected]
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SOURCE Solops, LLC