NEW YORK, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Luminace, the North American decarbonization-as-a-service platform of Brookfield Renewable and one of the largest fully integrated providers of distributed energy solutions to commercial, industrial, and public sector customers, and AC Power LLC, a brownfield solar development firm and certified women-owned business, announced a development services agreement (DSA) after their successful collaboration on two New Jersey Community Solar projects.
Under the DSA, AC Power will originate sites and manage key early-stage development tasks. Once an eligible project reaches construction-ready status, Luminace will acquire and build the project and serve as the long-term owner and operator. The DSA marks the most recent of Luminace’s strategic joint ventures as it pursues its commitment to advancing the energy and sustainability goals of its customers.
The AC Power team successfully worked with Luminace on the development of two community solar projects made possible by the New Jersey community solar pilot program. The close collaboration between AC Power and Luminace was vital to the success of these projects, which are expected to add approximately 2.26 MW-dc of clean renewable power to the local electric grid and power approximately 400 homes in New Jersey.
“Luminace is pleased to partner with AC Power to develop solar projects. AC Power’s specialized experience of pairing solar energy with underutilized sites combined with Luminace’s operational experience and access to capital will help customers achieve their decarbonization goals while reducing their costs,” said Brendon Quinlivan, SVP of Luminace.
“We are thrilled to have the support of Luminace. Their deep expertise is the perfect partner to AC Power as we work together to bring forward complex projects that might not otherwise be completed,” said Annika Colston, President and Founder of AC Power.
About Luminace
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 4,000 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, EV solutions and energy efficiency upgrades and retrofits as well as grid-resiliency options, all at no upfront cost.
About AC Power, LLC
AC Power’s mission is to facilitate the natural pairing of solar energy facilities and landfills, brownfields, and other underutilized sites that can be co-located with solar to serve multiple purposes. Our team overcomes the obstacles associated with these sites to successfully bring solar facilities into operation and return the property to revenue-generating use. AC Power is committed to working with transparency, collaboration, and integrity
AC Power is a certified WBE.
Contact
Meaghan Gorski
Manager, Corporate Communications
meaghan.gorski@luminace.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/85562539-1b30-477a-8dd0-f61217d3b723
