Genie Acquires 9.4 MW Solar Bundle
- Sunlight Energy has acquired a 9.4 MW portfolio of solar arrays in Ohio & Michigan used to power school facilities. This is the first operating solar asset acquisition for Sunlight Energy, providing immediate return on investment. Plus, the developer retains right of first refusal on future projects.
Sunlight Energy has acquired a 9.4 MW portfolio of solar arrays operating in Ohio and Michigan which are supplying their output to school facilities. This is the first transaction involving operating solar assets for Sunlight Energy and will start adding to the company’s bottom line immediately. The developer retained the right of first refusal on the future projects.
What Impact Will Sunlight Energy's Acquisition Have?
- Sunlight Energy's acquisition of 9.4 MW portfolio of solar arrays will increase the company’s bottom line quickly and efficiently.
- This is the first time Sunlight Energy is investing in operational solar assets, and it is likely to be the first of many as the company looks to expand its reach in the renewable energy market.
- The acquisition will give Sunlight Energy a foothold in the Midwest, which is a key market for renewable energy projects.
- The portfolio of solar arrays will supply energy to school facilities, helping to reduce their carbon footprint and create a greener environment.
- The developer of the solar arrays retains the right of first refusal on future projects, ensuring that Sunlight Energy will be able to continue to expand their portfolio in the renewable energy market.
- The acquisition will also provide a boost to the local economy in Ohio and Michigan, as more solar projects are built and the renewable energy market continues to grow.