{"id":380747,"date":"2020-11-13T08:03:32","date_gmt":"2020-11-13T13:03:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=380747"},"modified":"2020-11-13T08:03:32","modified_gmt":"2020-11-13T13:03:32","slug":"cardinal-renewables-a-strategic-partnership-between-the-carlyle-group-and-alchemy-renewable-energy-secures-ppa-with-direct-energy-business","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cardinal-renewables-a-strategic-partnership-between-the-carlyle-group-and-alchemy-renewable-energy-secures-ppa-with-direct-energy-business\/","title":{"rendered":"Cardinal Renewables, A Strategic Partnership Between The Carlyle Group and Alchemy Renewable Energy, Secures PPA with Direct Energy Business"},"content":{"rendered":"<h2>\nDeveloper, Holocene Clean Energy, commences construction of Twittys Creek Solar, LLC, a 14-megawatt-AC solar installation located in Charlotte County, Virginia<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p>SPRINGFIELD, Nov.  13, 2020  (GLOBE NEWSWIRE) &#8212; Cardinal Renewables, a strategic partnership between the global investment firm, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Kfd2_bY-qfmam0ciCsUT1Zr_WtU1XUZ7QUHqR5scqC33ge8jd0z9aEfaB5TlGV-PLLtTOBTn_zzHeUPqoscH4Q==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">The Carlyle Group<\/a>, and <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=YBOOcjT7MGJoCs9DTZAOqaJ3J1OVG0Hyqdkopyltnv2TAXZCe1-E0qgl4mAM9b_tpdO902c2UsRoOrsMWJOsfgYdNBRh7wMmMCEsaOx-rZw=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Alchemy Renewable Energy,<\/a> an industry leader in renewable energy projects and tax equity financing, has secured a power purchase agreement (PPA) with <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1ru2f8y6G39zRVS2EbMhj1ZjvJJv0Gzui-3PZYrhTeqtDw2UcCf69boR2_1MZHOsVvGmTSfQ7UT_0gQVNuzY-onBeLzK5NbBy5ZsGo7xjmw=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Direct Energy Business<\/a>, one of North America\u2019s largest retail providers of electricity, natural gas, and home business energy-related services, through Twittys Creek Solar, LLC, supporting construction of its a 14 MW<sub>AC<\/sub> solar power installation located in Charlotte County, Virginia.<\/p>\n<p>Providing a lasting clean energy alternative to traditional fossil fuels, Twittys Creek reduces the amount of harmful carbon emissions released into the atmosphere. The new solar installation, developed by <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MRQn2x65QvuQMGVPuiYHvFcJD8VYydgss9fDVvmIzIJh1PLKLIopYB06xrdx6O0bByEw_uZju-4v9_L4BZzcp4-rZqhIWphmGgZg6RCkpvU=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Holocene Clean Energy<\/a>, is expected to be operational in December 2020.<\/p>\n<p>\u201cWe are excited to expand our operations with Twittys Creek, allowing us to broaden our coverage into Virginia and launching us one step closer to the clean energy transition,\u201d said <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xXxDhgMTPmVKKqkVMqhLcuJMmDHoAfht9AO1TH5O0PZ-zjSSfcbx7VWbaXiZzppY77ab1p-ftaoWXRznI4nCMVL23vDGxCVfJ2119OABdNE=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Lacie Clark<\/a>, CEO of Alchemy Renewable Energy. \u201cThe project would not have been possible without our joint venture with Carlyle, and collaboration with Direct Energy Business and Holocene Clean Energy.\u201d<\/p>\n<p>The new installation spans approximately 75-acres and will generate nearly 14 MW<sub>AC<\/sub> of clean power, which is estimated to offset over 700,000 Mt CO2e over 40 years of operation. This emissions reduction is equivalent to powering about 2,250 homes, removing nearly 4,125 passenger cars from the road, or reducing gasoline consumption by 2.1 million gallons every year the project generates electricity. By adding a new, renewable energy generation source to the grid, Twittys Creek Solar, LLC, fosters a cleaner future for power supply.<\/p>\n<p>\u201cEach of our renewable energy projects creates new power generation assets for the United States,\u201d said <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=N3pDuBoW-WgM1YPKqvk4JnSEhgA4TPwFmnrq7r5S70q39RkA4PvPU_Ap--tayKSCkly-gC3TLKekNOts4-3cMSg8PRLI0oXsH6tDC_6r_94tsftnn6HvBu-QgAj09X6g\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Pooja Goyal<\/a>, Co-Head of the Infrastructure Group at The Carlyle Group. \u201cTwittys Creek Solar, LLC, is expected to have a positive impact on the community of Charlotte County and the region by providing a clean energy source that is intended to provide efficient power delivery, improve the environment, and reduce dependency on fossil fuels.\u201d<\/p>\n<p>\u201cWe appreciate our collaboration with Cardinal Renewables and Direct Energy Business, who ultimately helped give life to the project. After working so closely with our partners and Charlotte County, seeing the stakes put into the ground was a truly joyful moment for our team,\u201d said Laura Tillett, Business Development at Holocene Clean Energy.<\/p>\n<p>\u201cDirect Energy is proud to have partnered with Holocene and Cardinal Renewables to commence construction on Twittys Creek. It is important for us to have sustainable assets as part of our supply portfolio to assist our customers in achieving their carbon reduction goals,\u201d said Ray Polakowski, Manager of Wholesale Origination for Direct Energy Business.\u00a0<\/p>\n<p>\u201cCompetitive markets drive cost-effective renewable energy adoption and create associated localized economic development benefits. This 14 MW<sub>AC<\/sub> solar project located in Charlotte County, Virginia will benefit the community and consumers,\u201d said Ron Cerniglia, Direct Energy\u2019s Director of Corporate &amp; Regulatory Affairs.\u00a0\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\n        <strong>About Cardinal Renewables <\/strong>\n      <\/p>\n<p>Cardinal Renewables, a strategic partnership between The Carlyle Group and Alchemy Renewable Energy, is focused on creating long-term value for investors, companies, and communities through the development, acquisition, financing, and operation of solar power generation projects throughout the United States, with a focus on projects ranging from 5-80 MW<sub>AC<\/sub>. The Carlyle Group, through the Carlyle Renewable and Sustainable Energy Fund, has made a $100 million commitment to this partnership.<\/p>\n<p>\u00a0<\/p>\n<p>\n        <strong>About The Carlyle Group<\/strong>\n      <\/p>\n<p>The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $230 billion of assets under management as of September\u00a030, 2020, Carlyle\u2019s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 30 offices across six continents. Further information is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=RfpffoJCiWKOzn0qZ6njb240V_FoQPg7k5qBbVNeO2U72okEF-q8JLiE6Tj9_6-0vOIci4KOoIJuk7OYssVoeQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.carlyle.com<\/a>. Follow Carlyle on Twitter @OneCarlyle.<\/p>\n<p>\u00a0<\/p>\n<p>\n        <strong>About Alchemy Renewable Energy <\/strong>\n      <\/p>\n<p>Alchemy Renewable Energy is an industry leader in renewable energy projects as well as comprehensive long-term debt and tax equity financing. The firm utilizes a credentialed team, a strong network of joint ventures, and parent company Monarch Private Capital to support premium mid-size utility-scale renewable energy projects, including solar and biomass power generation. The Company leverages Monarch Private Capital\u2019s tax equity placement services as the final element of its projects\u2019 capital structure. In addition, Alchemy reduces overall project costs and produce higher overall investor returns by eliminating the need to source third-party development and financing support.<\/p>\n<p>\u00a0<\/p>\n<p>\n        <strong>About Holocene Clean Energy <\/strong>\n      <\/p>\n<p>Holocene Clean Energy is building the foundation for the future of solar power supply, battery storage, and delivery. As a leading innovator, they create scalable distributed solar generation and storage project portfolios to reduce dependency on traditional fuels, increase grid reliability, and improve the efficiency of power delivery. The Company\u2019s distributed generation strategy allows power consumers to procure renewable energy at competitive prices while providing meaningful benefits to local communities hosting their generation facilities.<\/p>\n<p>\u00a0<\/p>\n<p>\n        <strong>About Direct Energy<\/strong>\n      <\/p>\n<p>Direct Energy is one of North America\u2019s largest retail providers of electricity, natural gas, and home and business energy-related services with nearly four million customers. Direct Energy gives customers choice, simplicity, and innovation where energy, data, and technology meet. A subsidiary of Centrica plc (LSE: CNA), an international energy and services company, Direct Energy, its subsidiaries and\/or affiliates, operate in 50 U.S. states plus the District of Columbia and 8 provinces in Canada. To learn more about Direct Energy, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1VcubqAOuw58dPN08QOKcjmD0D0QHS9iaPCiiOcXQUA_rb6xE4kUyLsBQSaXKRF_rHY1hrsUT1sIHDumjpJsWAJpEkVdDwWaPLuANuHkobE=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.directenergy.com<\/a>.<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NTA2OSMzODI0NDI5IzIxOTIyNjk=\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>Jane Rafeedie\r\nMonarch Private Capital\r\n4702838431\r\njrafeedie@monarchprivate.com\r\n<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Developer, Holocene Clean Energy, commences construction of Twittys Creek Solar, LLC, a 14-megawatt-AC solar installation located in Charlotte County, Virginia SPRINGFIELD, Nov. 13, 2020 (GLOBE NEWSWIRE) &#8212; Cardinal Renewables, a strategic partnership between the global investment firm, The Carlyle Group, and Alchemy Renewable Energy, an industry leader in renewable energy projects and tax equity financing, has secured a power purchase agreement (PPA) with Direct Energy Business, one of North America\u2019s largest retail providers of electricity, natural gas, and home business energy-related services, through Twittys Creek Solar, LLC, supporting construction of its a 14 MWAC solar power installation located in Charlotte County, Virginia. Providing a lasting clean energy alternative to traditional fossil fuels, Twittys Creek reduces the amount of harmful carbon &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cardinal-renewables-a-strategic-partnership-between-the-carlyle-group-and-alchemy-renewable-energy-secures-ppa-with-direct-energy-business\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Cardinal Renewables, A Strategic Partnership Between The Carlyle Group and Alchemy Renewable Energy, Secures PPA with Direct Energy Business&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-380747","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cardinal Renewables, A Strategic Partnership Between The Carlyle Group and Alchemy Renewable Energy, Secures PPA with Direct Energy Business - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cardinal-renewables-a-strategic-partnership-between-the-carlyle-group-and-alchemy-renewable-energy-secures-ppa-with-direct-energy-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardinal Renewables, A Strategic Partnership Between The Carlyle Group and Alchemy Renewable Energy, Secures PPA with Direct Energy Business - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Developer, Holocene Clean Energy, commences construction of Twittys Creek Solar, LLC, a 14-megawatt-AC solar installation located in Charlotte County, Virginia SPRINGFIELD, Nov. 13, 2020 (GLOBE NEWSWIRE) &#8212; Cardinal Renewables, a strategic partnership between the global investment firm, The Carlyle Group, and Alchemy Renewable Energy, an industry leader in renewable energy projects and tax equity financing, has secured a power purchase agreement (PPA) with Direct Energy Business, one of North America\u2019s largest retail providers of electricity, natural gas, and home business energy-related services, through Twittys Creek Solar, LLC, supporting construction of its a 14 MWAC solar power installation located in Charlotte County, Virginia. Providing a lasting clean energy alternative to traditional fossil fuels, Twittys Creek reduces the amount of harmful carbon &hellip; Continue reading &quot;Cardinal Renewables, A Strategic Partnership Between The Carlyle Group and Alchemy Renewable Energy, Secures PPA with Direct Energy Business&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cardinal-renewables-a-strategic-partnership-between-the-carlyle-group-and-alchemy-renewable-energy-secures-ppa-with-direct-energy-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-13T13:03:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NTA2OSMzODI0NDI5IzIxOTIyNjk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cardinal-renewables-a-strategic-partnership-between-the-carlyle-group-and-alchemy-renewable-energy-secures-ppa-with-direct-energy-business\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cardinal-renewables-a-strategic-partnership-between-the-carlyle-group-and-alchemy-renewable-energy-secures-ppa-with-direct-energy-business\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Cardinal Renewables, A Strategic Partnership Between The Carlyle Group and Alchemy Renewable Energy, Secures PPA with Direct Energy Business\",\"datePublished\":\"2020-11-13T13:03:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cardinal-renewables-a-strategic-partnership-between-the-carlyle-group-and-alchemy-renewable-energy-secures-ppa-with-direct-energy-business\\\/\"},\"wordCount\":947,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cardinal-renewables-a-strategic-partnership-between-the-carlyle-group-and-alchemy-renewable-energy-secures-ppa-with-direct-energy-business\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4NTA2OSMzODI0NDI5IzIxOTIyNjk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cardinal-renewables-a-strategic-partnership-between-the-carlyle-group-and-alchemy-renewable-energy-secures-ppa-with-direct-energy-business\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cardinal-renewables-a-strategic-partnership-between-the-carlyle-group-and-alchemy-renewable-energy-secures-ppa-with-direct-energy-business\\\/\",\"name\":\"Cardinal Renewables, A Strategic Partnership Between The Carlyle Group and Alchemy Renewable Energy, Secures PPA with Direct Energy Business - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/cardinal-renewables-a-strategic-partnership-between-the-carlyle-group-and-alchemy-renewable-energy-secures-ppa-with-direct-energy-business\/","og_locale":"en_US","og_type":"article","og_title":"Cardinal Renewables, A Strategic Partnership Between The Carlyle Group and Alchemy Renewable Energy, Secures PPA with Direct Energy Business - Market Newsdesk","og_description":"Developer, Holocene Clean Energy, commences construction of Twittys Creek Solar, LLC, a 14-megawatt-AC solar installation located in Charlotte County, Virginia SPRINGFIELD, Nov. 13, 2020 (GLOBE NEWSWIRE) &#8212; Cardinal Renewables, a strategic partnership between the global investment firm, The Carlyle Group, and Alchemy Renewable Energy, an industry leader in renewable energy projects and tax equity financing, has secured a power purchase agreement (PPA) with Direct Energy Business, one of North America\u2019s largest retail providers of electricity, natural gas, and home business energy-related services, through Twittys Creek Solar, LLC, supporting construction of its a 14 MWAC solar power installation located in Charlotte County, Virginia. 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