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SAN FRANCISCO, CA. (September 2, 2020) – Kruger Energy, a business unit of Kruger Inc. specializing in the development and management of renewable energy power plants, has sold a 523MW mid-stage solar development portfolio to Ecoplexus, a leading renewables IPP.  The development portfolio, located in Georgia and Tennessee, will provide clean energy to hundreds of thousands of households in the Southeast upon completion.

As a part of the sale, Ecoplexus will continue developing the five-project portfolio, with targeted commercial operation dates in 2022 and 2023. The portfolio is well-positioned in the Southeast, one of the fastest-growing solar markets with strong increased demand from utility, cooperative, and corporate offtakers.

CohnReznick Capital served as exclusive financial advisor to Kruger Energy on the transaction.

About Ecoplexus Inc.

Ecoplexus is a leading international, integrated midsize renewable energy and energy storage developer, owner, and operator with a proven record of development, growth and profitability.  Ecoplexus has expanded its presence to 6 countries and has developed and deployed 70+ solar facilities worldwide and closed financing transactions in excess of $825 million.

About Kruger Energy

Kruger Energy is a business unit of Kruger Inc. and specializes in the development and management of renewable energy power plants. Kruger Energy manages and operates 42 production sites across North America, ranging from hydroelectric, wind, solar, energy storage, and biomass cogeneration plants, with a total installed capacity of 542 MW.

About CohnReznick Capital

At CohnReznick Capital, we provide superior investment banking services to the sustainability sector. Since 2008, we have executed more than 175 project and corporate transactions for renewable energy assets valued at over $24 billion in aggregate. We are wholly committed to the clean energy transition and deliver exceptional services for financial institutions, infrastructure funds, strategic participants (IPPs and utilities), and leading global clean energy developers.  Our team of experts helps our clients break through the dynamic and evolving sustainability sector by simplifying project finance, M&A, capital raising, and special situations. To learn more, please visit www.cohnreznickcapital.com, follow @CR_Capital on Twitter, and connect with us on LinkedIn.

SAN FRANCISCO, CA. (Mar 10, 2020) – Ecoplexus Inc., a leading global developer and owner of renewable energy projects, announced today that it has commenced construction of the 70-Megawatt Peak Durrance Solar Center in the state of Florida, United States. The project was developed by Ecoplexus and will be owned by one of the major Investor Owned Utilities in Florida and requires an investment of more than $90 million.

This project will provide 125 gigawatt-hours of clean electricity annually. That is enough to power 18,000 homes and prevent the carbon dioxide emission of roughly 15 million gallons of gasoline, in effect taking 20,000 passenger vehicles off the road.

​CHARLOTTE, N.C. (Feb. 24, 2020) – The Charlotte City Council today voted Monday evening to participate in the Duke Energy Green Source Advantage (GSA) Program, which will enable the City of Charlotte to move forward with a 35-Megawatt (45-Megawatt Peak Capacity), utility-scale solar energy project – and makes Charlotte the nation’s most populous city to acquire new renewable energy through a utility green tariff. The City will partner with Carolina Solar Energy, a North Carolina-based, solar energy company, and Ecoplexus, an international renewable energy company with offices in Durham, NC. Ecoplexus will build, own and operate the solar farm which will require an investment of $55m USD, which is expected to be fully operational by 2022.

The solar energy project, which will help offset about 25% of carbon emissions from city-owned buildings over the next 20 years, helps advance the City’s Strategic Energy Action Plan (SEAP). The SEAP was adopted unanimously by the City Council in December 2018 and provides the roadmap for Charlotte to become a low-carbon City by 2050, aligning with the Paris Climate Agreement. As part of its goals, the City aims to achieve 100% zero carbon municipal buildings and fleet by 2030.

“Not only does this 35-Megawatt (45-Megawatt Peak Capacity) solar energy project get us 25% of the way towards our goal in a very short time, but it contributes to building the green economy and improves our citizens’ quality of life,” said Heather Bolick, Energy & Sustainability Coordinator for the City of Charlotte.

The solar energy project is expected to save the City nearly $2 million in energy expenses over 20 years and will improve air quality in the region by reducing harmful pollution.  In addition, it is expected to create 428 jobs in the region, produce enough electricity that equates to powering 10,000 homes annually, and reduce carbon emissions equivalent to removing 12,000 passenger vehicles from the road.

The GSA program allows large customers to select and negotiate directly with a renewable energy company of their choice, thereby allowing the large customer to keep all renewable energy certificates (RECs) generated by that renewable facility. The City completed a competitive procurement process to select Carolina Solar Energy, in partnership with Ecoplexus, and the planned 35 MW solar energy project.

Additional information can be found on the City of Charlotte’s Office of Sustainability website.

American Cities Climate Challenge:
Charlotte is one of 25 cities selected to participate in the American Cities Climate Challenge, an effort to resource cities to take strong action to reduce pollution that contributes to climate change and impacts public health. As part of the challenge, the city has pledged to take bold action to reduce emissions from its transportation and building sectors. This utility-scale, solar project is an important part of the City of Charlotte’s response to the challenge. The Renewables Accelerator, led by World Resources Institute and Rocky Mountain Institute, provides tools, resources and technical assistance to help U.S. cities advance ambitious renewable energy goals. Our partnership supports local governments in the American Cities Climate Challenge, the Urban Sustainability Directors Network and more as they strive to decarbonize the electricity sector.