OYA, Oil Well Shares to jointly establish 3 GW of renewables in PJM
- OYA Renewables and Appalachian energy firm Oil Well Shares (OWS) have actually established a joint venture to create and develop over 3 GW of area and also utility-scale renewable energy projects across OWS's current land inventory in the PJM area.
The new firm, called Chrysalis Energy, intends to deliver solar, wind and also energy storage facilities projects across 1.5 million acres of primarily contiguous, rights-owned land in Pennsylvania, Ohio and West Virginia. Green hydrogen projects are additionally being taken into consideration.
"The large magnitude of the land position is amazing, likely the single biggest exclusive land stock in PJM and also comprising 1/1000th of the whole continental United States acreage. Closeness to the Great Lakes is additionally very substantial, permitting us to explore green hydrogen chances along with solar, storage space, and also wind," commented Manish Nayar, chairman and creator of OYA Renewables.
According to the statement, the development of these projects would certainly cause more than USD 3 billion (EUR 3bn) in regional capital investment by the end of the decade.
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