[September 17, 2014, New York, New York] — Soltage-Greenwood, a joint venture between premier North American solar power provider Soltage, LLC, and Greenwood Energy, now Greenwood Sustainable Infrastructure (GSI), today announced the official commissioning of a 2.7-megawatt (MW) solar power system located on Casella Waste Systems’ Coventry, Vermont landfill site.
The array is the largest solar project built on a landfill site in Vermont, and is expected to generate three million kilowatt-hours of electricity annually from more than 9,000 solar panels. Energy will be sold through a 25-year power purchase agreement to Vermont Electric Power Producers Inc. (VEPP Inc.), a purchasing agent appointed by the Vermont Public Service Board under Vermont’s Sustainably Priced Energy Enterprise Development (SPEED) Standard Offer Program.
“We are pleased to announce the completion of this solar facility on the Coventry landfill site,” said Jesse Grossman, Soltage Co-Founder and CEO. “The Coventry project is an excellent example of how solar technology can provide affordable and reliable power to domestic energy consumers.”
The solar array is located on the buffer zone for Vermont’s only active landfill, and was designed and constructed by Borrego Solar Systems Inc. Soltage-Greenwood brought the project from shovel-ready to commissioned status, and invested capital financing for the project as part of a previously announced $40 million investment in solar power by a consortium of investors led by John Hancock and the Libra Group.
“We’re excited to officially commission the Coventry solar power plant and add new solar power capacity in Vermont,” said Camilo Patrignani, Greenwood Energy CEO. “This project demonstrates how renewable energy can succeed when access to upfront capital and a turnkey development approach are paired with supportive government policy.”
Casella Waste Systems, which owns the Coventry landfill, was the original development partner on this solar power system project. When combined with Casella’s existing 8MW on-site methane-to-energy facility, all available property is now being used to generate clean power.
“This project illustrates the spirit of collaboration at its best,” said Joe Harrison, project developer at Borrego Solar. “All parties had an eagle eye on getting the project completed and brought online as quickly and smoothly as possible.”
About Greenwood Sustainable Infrastructure
Greenwood Sustainable Infrastructure (GSI) (www.greenwoodinfra.com) is one of the clean energy subsidiaries of Libra Group. GSI is a renewable energy company focused on the development, construction and operation of distributed generation and utility-scale solar energy and battery storage projects in North America. As of March 2023, the company developed approximately 178 MW across 43 renewable energy projects, many of which are still owned or operated by GSI, and has an additional project pipeline of 1.6 GW. GSI’s seasoned team also has a proven track-record investing in power assets and partnering with multiple top-tiered investors.
About Libra Group
Libra Group (www.libra.com) is a privately owned, global business group that encompasses 30 operating entities: 20 businesses predominately focused on aviation, renewable energy, maritime, real estate, hospitality, and diversified investments, and 10 social initiatives. With assets and operations in nearly 60 countries, the Group applies the strength of its global network and capabilities to deliver cross-sector insights and growth at scale, while mitigating risk. Today, Libra’s Social Responsibility Programs include 10 social initiatives created to address unmet needs and grantmaking that helps people worldwide.
[July 17, 2014, New York, New York] — Soltage-Greenwood, a joint venture between the premier North American solar power provider Soltage, LLC, and Greenwood Energy, the North and Latin American clean energy division of the Libra Group, today announced an equity financing of $70 million led by John Hancock Life Insurance Company (U.S.A.) for the construction and operation of seven solar photovoltaic (PV) power stations in Massachusetts and North Carolina totaling 32 megawatts (MW) of generating capacity.
This is the second Soltage-Greenwood commitment led by John Hancock, and builds upon a first round of solar PV assets announced earlier this year. Together, the consortium of investors has committed more than $110 million of investment into 13 Soltage-Greenwood solar projects, located in five states with a combined generating capacity of 45 MW. Once commissioned, electricity will be sold exclusively through long-term agreements with a mix of municipalities and utilities.
“This second portfolio demonstrates the stability and repeatability of solar investment through our capital platform,” said Jesse Grossman, Soltage co-founder & CEO. “We look forward to managing these solar assets for the benefit of our electricity clients and investment partners for decades to come.”
“We are truly pleased to have John Hancock’s continued support in our current and future solar projects,” said Camilo Patrignani, CEO of Greenwood Energy. “This comes as a great follow-up to the initial portfolio developed by the Soltage-Greenwood team earlier this year.”
“We are pleased to execute an additional transaction with Soltage-Greenwood,” said Recep C. Kendircioglu, CFA, Managing Director on John Hancock’s Power & Infrastructure Group. “These solar assets represent a continuation of our relationship with the Soltage-Greenwood team to further deploy capital into clean, reliable sources of energy.”
Soltage-Greenwood, a joint venture formed in 2013, is focused on the development, financing and operation of solar power plants for commercial-scale customers. The joint venture combines Greenwood Energy, the clean energy division for the Americas of the Libra Group, a privately owned international business group comprising 30 subsidiaries operating across five continents with Soltage, LLC, a leader in U.S. solar development backed by a group of investors including Tenaska, one of America’s largest independent energy companies with approximately 11,000 MW of power generating assets under management.
Ribbon cutting event at the new ground mount fixed tilt solar panel farm in the Town of Gardner. (Mandatory Credit: Greg M. Cooper / Borrego Solar)
[May 20, 2014, Gardner, Massachusetts] — Soltage Greenwood, a joint venture between Greenwood Energy and Soltage LLC, today joined Borrego Solar to inaugurate a 2.5 megawatt (MW) solar photovoltaic project designed and built for the City of Gardner, Massachusetts.
The 8,474-panel ground-mount installation will produce the equivalent annual electrical demand of 290 homes and could save up to $3 million over the next 20 years.
Over the same time period, Gardner will receive over $60,000 per year in lease payments for the land and a payment in lieu of taxes (PILOT) amount based on annual generation.
“Gardner’s solar power system was designed and built with no upfront costs through a 20-year power purchase agreement,” said Dennis Loria, Greenwood Senior Vice President of Project Development. “This is an excellent example of how an innovative approach and partnership with other solar developers can provide sustainable, clean energy for our customers.”
Since becoming a designated Massachusetts Green Community in 2011, Gardner has also installed wind energy projects at Mount Wachusett Community College and North Central Correction Institution. The new solar array was built on previously unoccupied city land, thereby upgrading and utilizing an otherwise unproductive site for power generation.
“Gardner has worked hard to find savings wherever possible to ensure every City dollar is spent responsibly, and going solar has been a no-brainer,” said Gardner Mayor Mark Hawke. “The existing wind projects located in the city, and our new solar installations are allowing us to significantly reduce operating costs and uphold our commitment to implementing sustainable, environmentally friendly operations.”
[May 6, 2014, New York, New York] — Greenwood Energy, the North American clean energy division of Libra Group, sponsored this year’s Riverkeeper’s Annual Fisherman’s Ball. Held on April 29th, 2014 at Pier 60 in New York, the event honored two changemakers with the Big Fish Award this year: Chelsea Clinton and SolarCity. Riverkeeper’s Big Fish Award recognizes individuals and organizations that have had a transformative impact on the movement to protect our natural resources.
Camilo Patrignani, CEO of Greenwood Energy and Riverkeeper Board Member presented co-founder and Chief Executive Officer of SolarCity, Lyndon Rive, with one of this year’s 2014 Big Fish Awards.
Riverkeeper is a member-supported watchdog organization dedicated to defending the Hudson River and its tributaries. By doing so, it protects the daily drinking water supply of nine million New York City and Hudson Valley residents.
Greenwood Energy has been developing, constructing and investing in clean and renewable energy projects since 2010. The company is involved in renewable fuels manufacturing, clean energy generation and solar project construction.
[January 16, 2014, New York, New York] — Soltage-Greenwood, a joint venture between the North American clean energy division of the Libra Group and premier North American solar power provider Soltage, LLC, today announced that John Hancock Life Insurance Company (U.S.A.) will lead equity financing for the construction and operation of multiple solar power stations across the United States. A consortium of investors led by John Hancock and Libra Group will provide an initial equity funding of $40 million.
A first portfolio comprising six solar projects located in Delaware, Massachusetts, New York and Vermont is expected to be online by mid-year. Once commissioned, electricity will be sold exclusively through long-term agreements with a mix of top tier corporate customers, municipalities and utilities.
“We are very excited to have a company of John Hancock’s caliber supporting our current and future solar projects,” said Camilo Patrignani, Head of Americas for Libra Group. “We believe we are well positioned to quickly and efficiently capitalize on the growing demand for distributed clean energy well into the future.“
“This portfolio benefits from both the favorable solar markets that are solidifying up and down the Eastern seaboard, as well as our forward-thinking power customers – who are partnering with us to lock in dependable energy pricing over the next 10 to 20 years,” said Jesse Grossman, Soltage co-founder & CEO. “We are proud to be adding these top quality generating assets to the fast-growing U.S. solar base and look forward to leveraging our expertise in their long-term management.”
“We are pleased to execute this transaction with Soltage-Greenwood,” said Recep C. Kendircioglu, CFA, Managing Director on John Hancock’s Power & Infrastructure Group. “We look forward to growing this relationship into a larger platform that continues to invest in clean, reliable sources of energy.”
Soltage-Greenwood, a joint venture formed in 2013, is focused on the development, financing and operation of solar power plants for commercial-scale customers. The joint venture combines Greenwood Energy, the North American renewable division of Libra Group – an international business group with diversified holdings across five continents with Soltage, LLC, a leader in U.S. solar development backed by a group of investors including Tenaska, one of America’s largest independent energy companies with approximately 13,000 megawatts of power generating assets under management.
[October 29, 2013, New York, New York] — Greenwood Energy, the North American clean energy division of Libra Group, sponsored this year’s Riverkeeper EcoSalon: Greening Post-Sandy New York. Held on Thursday October 24th, 2013 at the Hearst Tower in New York, the event featured a panel discussion on New York’s Hurricane Sandy recovery efforts. Guests were invited to discuss the lessons of Sandy and the challenges and opportunities involved in protecting New York’s shoreline communities, infrastructure, energy supplies, economy and environment from future storms.
Ambassador John Negroponte, a member of the Board of Directors of Libra Group, moderated the discussion which featured a panel of experts including Steven Cohen, Executive Director, The Earth Institute, Columbia University; Kim Yao, AIA, Principal, Architecture Research Office; and Paul Gallay, President of Hudson Riverkeeper.
Riverkeeper is a member-supported watchdog organization dedicated to defending the Hudson River and its tributaries and protecting the drinking water supply of nine million New York City and Hudson Valley residents.
Greenwood Energy has been developing, constructing and investing in clean and renewable energy projects since 2010. The company is involved in renewable fuels manufacturing, clean energy generation and solar project construction.
Acquisitions Bolster Greenwood Energy Portfolio; Borrego Solar to Design and Build 5.5 MW of Projects in Cities of Walpole and Gardner
[August 13, 2013, New York, New York] — Greenwood Energy, the North American clean energy division of Libra Group, has completed the purchase of 5.5 megawatts (MW) DC of solar energy projects from Borrego Solar Systems, Inc., a leading designer, installer and financier of grid-tied solar photovoltaic (PV) systems. The projects will be designed and built by Borrego Solar in the cities of Gardner and Walpole, Mass., and are just entering the construction phase. The power purchase agreement (PPA) contracts will be owned and serviced by Greenwood Energy. Financial terms of the sale were not disclosed.
“The City of Gardner is expanding its commitment to clean energy by purchasing power from a 2.5 MW DC solar energy project located within city limits,” said Mayor Mark Hawke. “The City’s partnership with renewable energy companies like Borrego Solar and investors like Greenwood Energy, help stimulate the state and local economy while improving the sustainability of our City’s services. Our City will also benefit through energy savings and cost predictability, along with a steady stream of income for our tax payers. This project is a win-win-win for the City of Gardner, its energy partners and the environment.”
The solar energy portfolio being acquired by Greenwood Energy also includes a 3 MW DC system in Walpole. By financing these transactions, Greenwood Energy is expanding its clean energy portfolio and acquiring an ongoing revenue stream. Borrego Solar combined its long-standing reputation for developing quality, cost-effective projects with credit-worthy commercial and public-sector customers, with its deep knowledge of the Massachusetts market to successfully develop these projects.
“The projects will complement our existing portfolio of renewable energy resources, particularly as they are economically sound and shovel-ready projects that will bring environmental benefits to local communities,” said Douglas Johnsen, CFO of Greenwood Energy. “We look forward to continuing to work with Borrego Solar and the energy stakeholders and beneficiaries, like Gardner and Walpole, on projects that help advance the adoption of renewable energy and stimulate the U.S. economy.”
“Greenwood Energy is a great partner for projects we are developing in the 1-10 MW range,” said Sam Chatterjee, director of project finance at Borrego Solar. “They understand the nuances of investing in solar projects in Massachusetts and elsewhere in the U.S., have a strong balance sheet and an ability to execute. They are a committed investor in the distributed generation space moving forward, and we look forward to developing additional projects for their portfolio and building on our partnership.”
Greenwood Energy has been developing, constructing and investing in clean and renewable energy projects since 2010. The Massachusetts projects are among 12MW DC of solar projects that Greenwood Energy is currently investing in in Delaware, New York and Massachusetts and expecting to be operational by the beginning of 2014.
The company also has combined heat and power installations throughout the Northeast, either in construction or in operation.
[June 24, 2023, New York, New York] — Greenwood Energy, the North American clean energy division of the Libra Group, has completed the purchase a total of approximately 2 megawatts (MWp) in capacity of solar projects to be located in Wilmington, Delaware. The ‘Peninsula’ projects, each approximately 1 MWp in size, were originally developed by Tangent Energy Solutions, Inc. Already in construction and expected to reach commercial operation by October 2013, the projects will be constructed by Greenwood Energy’s joint venture partner Greenwood Biosar under an engineering, procurement and construction (EPC) contract.
The Peninsula solar installations, to be built on approximately seven acres of remediated brownfield, will sell power to Delmarva Power & Light Company (DPL) according to the utility’s Cogeneration and Small Power Production tariff. Under a 20 year contract, DPL will also purchase 100% of the solar renewable energy credits (SRECs) created by the projects.
“The Peninsula projects represent an excellent investment opportunity for Greenwood Energy, and combine the strengths of our power and EPC teams into one unified program,” said Greenwood Energy’s CFO, Douglas Johnsen. “We also want to recognize Tangent Energy Solutions for their development work in creating economically sound and truly shovel-ready projects. Greenwood Energy looks forward to working with Tangent again in the imminent future.”
“In today’s market, bringing projects like this to completion takes the right blend of planning, expertise and capital.” said Dean Musser, CEO of Tangent Energy Solutions. “Greenwood Energy is the perfect development partner for this and other projects because of their solid process, team oriented approach and our shared vision on the role of on-site assets as part of a comprehensive energy solution.”
“Greenwood Biosar is very proud to be bringing its wealth of solar construction expertise to this significant DPL project,” said Greenwood Biosar CEO Kristina Peterson. “This is an ideal partnership. Our team has deep experience in engineering, design, procurement and construction of utility-scale solar projects. We’re very pleased to be providing state-of the-art, clean, emissions-free solar generation to help meet Delmarva residents’ electricity needs.”
Greenwood Energy has been developing, constructing and investing in clean and renewable energy projects since 2010. The Peninsula projects are among 12MWp of solar projects that Greenwood Energy is currently investing in in Delaware, New York and Massachusetts and expecting to be operational by end of 2013. The company also has combined heat and power installations throughout the Northeast, either in construction or in operation.
[November 12, 2012, Henderson, Nevada] — Blue Earth, Inc. (OTCBB: BBLU), a renewable energy and energy efficiency services company announced today that its wholly owned subsidiary, Xnergy Inc., entered into a development and financing agreement with Greenwood Biosar LLC, a joint venture company between Greenwood Energy and Biosar S.A., to construct six separate solar projects totaling approximately 1 megawatt of DC in California. These “Sunvalley Projects” consist of six solar PV systems, both ground mount and rooftop, to be installed for private businesses in southern California
The construction of the Sunvalley Projects is expected to begin in the third quarter of 2012. It is expected that they will all be completed no later than the first quarter of 2013.
Greenwood Biosar will support Xnergy in the development of the Sunvalley Projects by supplying PV panels and other balance of plant equipment as well as providing construction financing.
“We are very excited to partner with Blue Earth,” said Camilo Patrignani, Vice President of Greenwood Biosar, “The Sun Valley Projects will be just the first of many with Blue Earth and Xnergy.”
“We are delighted to establish a development and funding relationship with parties that have the capacity to develop and fund numerous solar PV projects. We have also agreed to work together on 2 MW’s of our Hawaii solar projects, with the expectation that we will work together on numerous others.” stated D. Jason Davis, CEO of Xnergy, Inc.
Xnergy is a full-service EPC (Engineering, Procurement, Construction) firm, which has engineered, installed, and/or commissioned nearly 100 MW of traditional and alternative energy systems. Xnergy provides a broad range of comprehensive energy solutions, including the design and implementation of energy savings projects, energy conservation, energy infrastructure outsourcing, power generation and energy supply and risk management. Xnergy serves private and public clients from all industries throughout California and helps them minimize their energy consumption and reduce their carbon footprint. For further information, visit www.xnergy.com
BBLU is engaged in the clean technology industry with a primary focus on the energy efficiency and renewable energy sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and substantially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit www.blueearthinc.com
New division to make Greenwood Energy a major player in the U.S. solar energy market
[October 4, 2012, New York, New York] — Greenwood Energy, the North American renewable energy division of Libra Group, today announced a new joint venture with Biosar Energy S.A., a global leader in the construction of medium and large scale photo-voltaic (PV) solar systems throughout Europe. Biosar brings proven engineering, procurement and construction (EPC) capabilities to combine with Greenwood’s existing alternative fuel and power project development capabilities. The joint venture, called Greenwood Biosar, will complement Greenwood’s existing operations and client base while increasing Biosar’s footprint throughout North America.
“Greenwood Energy’s joint venture with Biosar will further strengthen our position as a driver of clean energy projects in North America as we add solar EPC to our core capabilities,” said Greenwood Energy’s Interim CEO, Camilo Patrignani. “Greenwood Biosar will offer a competitive solution to customers, both utility-scale and medium-scale, looking for a turnkey solution to build solar capacity.”
Biosar, owned by the Ellaktor Group, has an established international presence and is a market leader throughout the sun-rich European Mediterranean where its portfolio spans numerous sites in Greece, Italy, Romania and Bulgaria. Biosar’s total installed capacity will exceed 300MW by the end of 2012. Due to their extensive project experience in Europe, Biosar has established long standing relationships with top tier solar panel and equipment manufacturers. These relationships will translate into a competitive advantage as the joint venture pursues EPC contracts throughout North America. Overall, the Greenwood Biosar venture will benefit from Biosar’s strong track record in delivering projects to customers, on-time and on-budget.
Greenwood Biosar operations in North America will include:
• Preliminary design, technical and implementation studies
• Permitting, engineering and construction
• Integrated Facility Management System for PV plants (IFMS)
• Operation & maintenance