Renergetica concluded the sale to Pine Gate Renewables of the projects to build two PV plants in Mic
Renergetica S.p.A., operating as developer in the field of renewable energy and of the smart grid worldwide and also as Independent Power Producer and asset manager for third party investors, announces the sale of the projects to build two PV plants to the company Pine Gate Renewables,concluded through its subsidiary Renergetica USA Corporation.
In particular, Renergetica has sold the project Lyons Road, with a total installed capacity of 28 MWp, that will be built in Shiawassee County, Michigan (US) and the project Ziegler, with a maximum expected total installed capacity of 28 MWp, that will be built in Calhoun County, Michigan (US).
Those projects are part of a group of projects that meet the criteria and the standards outlined by the Settlement Agreement approved by Michigan Public Service Commission (which disposed that the company Consumers Energy Co., the main Utility Provider of Michigan, will purchase the energy produced by renewable energy projects) and – therefore – will give, to the owners, the right to sign a Power Purchase Agreement (“PPA”) with the company Consumers Energy Co. for the sale and purchase of the produced energy (as already communicated on 28th November 2019).
Davide Sommariva – Chairman of the Board of Renergetica, commented:” This agreement represents an important milestone for the Company, that confirms our commitment in developing the projects, and the ability of “reproduce” our business successfully also in the US, and encourages us to improve and continue the consolidation of our presence in the ongoing markets, always looking at new markets.”
Pine Gates Renewables is active in the American market both as developer and Indipendent Power Producer, with a particular focus on PV plants.