Sunlight Energy Investments Acquires an Additional Solar Project
21 März 2024 - 9:30PM
Sunlight Energy Investments (Sunlight Energy), a subsidiary of
Genie Energy Ltd., (NYSE: GNE), a retail energy and renewable
energy solutions provider, today announced that it has purchased a
late-stage solar development project in Hamilton, Indiana from the
project developer.
The array will supply power to the Hamilton
Community High and Elementary Schools through direct fixed-price
solar power purchase agreements (PPAs). The transaction follows
Sunlight Energy’s purchase of a portfolio of 12 operational solar
arrays serving educational facilities in Ohio and Michigan with an
aggregate rating of 9.4 MW.
Nir Ashpiz, CEO of Sunlight Energy, said, “The
Hamilton project acquisition fits perfectly with our growing
portfolio of solar projects providing long-term, stable cash flows.
Backed by Genie Energy’s robust balance sheet, we continue to scout
for additional solar generation assets and projects with
opportunities for participation from third-party investors.”
Sunlight Energy is an equity financing vehicle
for commercial and community solar projects. Genie Energy, which
serves as the fund's General Partner, has provided Sunlight
Energy’s capitalization to date. Third-party investors are invited
to participate as limited partners in Sunlight Energy’s project
equity.
In this press release, all statements that are
not purely about historical facts, including, but not limited to,
those in which we use the words “believe,” “anticipate,” “expect,”
“plan,” “intend,” “estimate, “target” and similar expressions, are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. While these
forward-looking statements represent our current judgment of what
may happen in the future, actual results may differ materially from
the results expressed or implied by these statements due to
numerous important factors, including, but not limited to, those
described in our most recent report on SEC Form 10-K (under the
headings “Risk Factors” and “Management’s Discussion and Analysis
of Financial Condition and Results of Operations”), which may be
revised or supplemented in subsequent reports on SEC Forms 10-Q and
8-K. We are under no obligation, and expressly disclaim any
obligation, to update the forward-looking statements in this press
release, whether as a result of new information, future events or
otherwise.
About Genie Energy Ltd.:
Genie Energy Ltd. (NYSE: GNE) is a retail energy
and renewable energy solutions provider. The Genie Retail Energy
division supplies electricity, including electricity from renewable
resources, and natural gas to residential and small business
customers in the United States. The Genie Renewables division is a
vertically-integrated provider of commercial, community, and
utility-scale solar energy solutions. For more information, visit
Genie.com.
Sunlight Energy Investor Contact: Nir
Ashpiznir@sunlightinvest.com
Genie Energy Investor Contact:Brian Siegel IRC,
MBASenior Managing DirectorHayden IR(346)
396-8696brian@haydenir.com
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