NetworkNewsBreaks – Correlate Infrastructure Par
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Posted On: 07/06/2023 4:05:33 PM
NetworkNewsBreaks – Correlate Infrastructure Partners Inc. (CIPI), eDGe Renewable Partners Enter JV Designed to Accelerate Microgrid Development
Correlate Infrastructure Partners (OTCQB: CIPI) has entered into a joint venture (“JV”) agreement with eDGe Renewable Partners, a trusted financial manager that partners with renewable energy entrepreneurs to ensure their businesses are well capitalized, sustainable and ready for exponential growth. Called the Distributed Energy Capital agreement, the JV outlines a 50/50 partnership with initial financing targets up to $100 million and focuses on the development of solar energy projects dedicated to distributed energy initiatives and microgrids around the country. The announcement noted that Correlate is “immensely excited” about the opportunity to collaborate with eDGe to establish a nondilutive project finance platform designed to expedite growth of certain projects. The announcement observed that interconnection queue backlog is worsening, resulting in the increased need for distributed energy resources for generation, backup power and resiliency. “Distributed Energy Capital will play a pivotal role in addressing the pressing need for microgrid and distributed infrastructure development at scale,” said Correlate Infrastructure Partners CEO Todd Michaels in the press release. “By providing early-stage development capital, paired with Correlate’s unique technical expertise, our vetted developers can deliver on key milestones while investors can confidently place a greater volume of capital. Currently, the few capital-only offerings in the market for distributed projects are inherently inept for the current opportunity in our view. We know this offering is unique based on strong developer engagements already underway.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Correlate Infrastructure Partners (OTCQB: CIPI) has entered into a joint venture (“JV”) agreement with eDGe Renewable Partners, a trusted financial manager that partners with renewable energy entrepreneurs to ensure their businesses are well capitalized, sustainable and ready for exponential growth. Called the Distributed Energy Capital agreement, the JV outlines a 50/50 partnership with initial financing targets up to $100 million and focuses on the development of solar energy projects dedicated to distributed energy initiatives and microgrids around the country. The announcement noted that Correlate is “immensely excited” about the opportunity to collaborate with eDGe to establish a nondilutive project finance platform designed to expedite growth of certain projects. The announcement observed that interconnection queue backlog is worsening, resulting in the increased need for distributed energy resources for generation, backup power and resiliency. “Distributed Energy Capital will play a pivotal role in addressing the pressing need for microgrid and distributed infrastructure development at scale,” said Correlate Infrastructure Partners CEO Todd Michaels in the press release. “By providing early-stage development capital, paired with Correlate’s unique technical expertise, our vetted developers can deliver on key milestones while investors can confidently place a greater volume of capital. Currently, the few capital-only offerings in the market for distributed projects are inherently inept for the current opportunity in our view. We know this offering is unique based on strong developer engagements already underway.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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