Tuesday, July 23, 2024

New means for corporations to spend money on renewable vitality will get 5 photo voltaic initiatives off the bottom in MI


A gaggle of eight corporations exterior of Michigan are pooling their cash to spend money on 5 new photo voltaic initiatives within the state.

The idea is a brand new solution to contain extra corporations within the clear vitality transition. The pooled investments are managed by an organization known as Watershed.

Matt Konieczny is the top of Clean Power at Watershed. He mentioned that Watershed helps corporations that need to scale back their carbon footprint to seek out near-shovel-ready renewable initiatives that require exterior funding within the type of assured earnings to be obtained from on earth.

“[These are] initiatives that aren’t economically viable,” Konieczny mentioned, “and we assist our prospects help these initiatives, get new clear energy on the grid after which permit them to cut back their company emissions. “

Konieczny mentioned Watershed sees nice potential for the idea to extend company involvement within the transition to wash vitality — not simply in US states like Michigan which have bold clear vitality plans. , however worldwide. Some of Watershed’s prospects have invested in a photo voltaic venture in India, he mentioned, including that he hopes the corporate’s work will assist reduce among the “doom and gloom” across the local weather.

“We suppose there’s a actual alternative right here for firms to drive change within the transition to renewables and decarbonizing our economic system,” Konieczny mentioned.

The 5 initiatives will add about 100 MW of photo voltaic vitality to Michigan’s grid; that is sufficient to serve about 16,000 households. The photo voltaic initiatives are in Oscoda, Calhoun, Jackson, Kent and Gladwin counties.

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