Renergetica obtains the allocation of 14,62 MW for the projects developed in Michigan (USA)

Renergetica S.p.A., operating as developer in the field of renewable energies and of the smart grid worldwide and also as Independent Power Producer and asset manager for third party investors, announces the obtainment, through the affiliate Renergetica USA Corp., of the allocation of 14,26 MW for the projects developed in the State of Michigan (USA).

Renergetica USA Corp. has developed and submitted, together with other developers, some projects for the construction of PV plants that have been evaluated compliant to the criteria and the standards outlined by the Settlement Agreement approved by the Michigan Public Service Commission (which disposed that the company Consumer Energy Co., the main Utility Provider of Michigan, will purchase the electrical energy produced by renewable sources) and that – for this reason – will give the right, to their owners, to enter into a Power Purchase Agreement (PPA) with the Consumers Energy Co. for the sale and purchase of the energy produced.

The obtainment of that allocation constitutes for Renergetica Group an important outcome on the USA market and makes the developed projects more attractive for the third-party investors that intends to purchase projects for the exploitation of renewable energy.

Mr. Davide Sommariva, Chairman of Renergetica S.p.A commented: “We are negotiating the agreements for the sale and purchase of the developed projects in Michigan and we hope in a positive outcome of the transaction, in consideration of the allocation obtained: this important step will allow us to continue our work in the States, developing and submitting to our Clients others new projects under development in USA.”