- Luminace and Solops will co-develop distributed generation projects in the commercial and industrial sector across the U.S.
- Agreement capitalizes on the rapidly growing demand for decarbonization solutions
- Leverages the combined capabilities of Luminace’s leading decarbonization-as-a-service business and Solops’ leading solar development business
NEW YORK, Dec. 01, 2021 (GLOBE NEWSWIRE) — Luminace, the North American decarbonization-as-a-service business of Brookfield Renewable and Solops LLC (“Solops”), a leading national solar developer in the commercial and industrial sector, today announce an agreement to co-develop a pipeline of distributed generation projects over the next three years. Luminace will be the owner and operator of these projects once fully constructed.
Luminace and Solops are collaborating on the evaluation and development of up to 300 megawatts of distributed generation projects, which will help customers achieve their decarbonization goals and reduce their operating costs. The first set of projects is expected to achieve commercial operations in the third quarter of 2022.
“As owners and operators of one of the leading decarbonization-as-a-service businesses in North America with a portfolio of more than 3,500 megawatts, we are pleased to be positioned as a leading partner and solution provider for corporations and other institutions to achieve their decarbonization objectives,” said Valerie Hannah, CEO of Luminace. “We are pleased to team up with Solops, leveraging our combined capabilities to broaden our reach and scale in order to meet the rapidly growing customer demand for decarbonization solutions.”
“Our pipeline continues to grow at a record pace and finding the right company to help meet that growth with an investment and underwriting approach that matches our project profiles was critical,” said Ryan Marrone, President of Solops. “The Luminace team not only brings that capability, but the intellectual capital of a deep knowledge base of the space and an established institutional foundation to complement our development, construction and finance team’s capabilities.”
Luminace is a leading fully integrated decarbonization-as-a-service provider in North America, sponsoring accessible, reliable, and renewable energy infrastructure to empower the zero-emissions future. Luminace has an operational and development portfolio of more than 3,500 megawatts of distributed energy resources, serving hundreds of customers in the educational, commercial, industrial, utility, and municipal sectors across the U.S. and Canada. Luminace offers a full suite of decarbonization solutions including solar, energy storage and energy efficiency upgrades and retrofits as well as grid-resiliency options, all at no upfront cost.
Luminace is a Brookfield Renewable company. Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms.
Since 2010, the Solops team has collectively developed over 1GW of US C&I solar projects in 29 states and closed financings in excess of $1.5 Bn. As a strategic resource partner, Solops enhances the value of clients’ portfolios by improving cash flow, preserving hurdle rates, increasing business development pipelines, and adding value to existing real estate assets by structuring projects with leading EPC firms, financial institutions, and O&M managers.
Luminace Press Contact
Solops Press Contact
Phone: +1 609 915 3685
Email: [email protected]