NetworkNewsBreaks – Correlate Energy Corp. (CIPI
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Posted On: 06/11/2024 5:24:39 PM
NetworkNewsBreaks – Correlate Energy Corp. (CIPI) Working on $400M ‘Landmark’ Initiative to Develop Nation’s First Microgrid Utility
Correlate Energy (OTCQB: CIPI) is working to develop the first microgrid utility in the country. According to the announcement, the company is partnering with Compass Energy Platform and Distributed Energy Capital (“DEC”) on the landmark initiative, which will be a major advancement in adopting renewable utility infrastructure, ensuring reliable and resilient clean energy. The project is being led by Cuyahoga Green Energy (“CGE”) and will be the first new county utility for Cuyahoga County in more than 75 years. To begin with, the project calls for the development of four microgrids, totaling approximately $400 million, with opportunities for follow-on initiatives. Each microgrid will serve as small-scale electricity system that can operate independently from the main grid, thereby providing an uninterrupted supply of clean and reliable energy to its interconnected customers. Correlate Energy will operate DEC, which will provide financial and technical development services designed to support the partnership by structuring near and long-term project financing while Compass Energy Platform will serve as the operational and strategic partner responsible for managing the utility’s operations. “I am thrilled to see the culmination of our team’s historical experience in executing a project of this magnitude at the district level,” said Correlate Energy president and CEO Todd Michaels in the press release. “This initiative addresses a significant problem by providing resilient energy solutions for this county and opens up tremendous opportunities for our company to meet similar needs across North America.”
NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at http://nnw.fm/CIPI
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Correlate Energy (OTCQB: CIPI) is working to develop the first microgrid utility in the country. According to the announcement, the company is partnering with Compass Energy Platform and Distributed Energy Capital (“DEC”) on the landmark initiative, which will be a major advancement in adopting renewable utility infrastructure, ensuring reliable and resilient clean energy. The project is being led by Cuyahoga Green Energy (“CGE”) and will be the first new county utility for Cuyahoga County in more than 75 years. To begin with, the project calls for the development of four microgrids, totaling approximately $400 million, with opportunities for follow-on initiatives. Each microgrid will serve as small-scale electricity system that can operate independently from the main grid, thereby providing an uninterrupted supply of clean and reliable energy to its interconnected customers. Correlate Energy will operate DEC, which will provide financial and technical development services designed to support the partnership by structuring near and long-term project financing while Compass Energy Platform will serve as the operational and strategic partner responsible for managing the utility’s operations. “I am thrilled to see the culmination of our team’s historical experience in executing a project of this magnitude at the district level,” said Correlate Energy president and CEO Todd Michaels in the press release. “This initiative addresses a significant problem by providing resilient energy solutions for this county and opens up tremendous opportunities for our company to meet similar needs across North America.”
NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at http://nnw.fm/CIPI
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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