Genie Renewables ("GREW"), a division of Genie Energy Ltd., (GNE, GNEPRA), ("Genie") a leading supplier of energy services, today announced that it has acquired site rights to a community solar generation site in Upstate New York. Once built out and brought online, the proposed project is expected to have an aggregate generating capacity of approximately 6.25 megawatts (MW).
"Community solar and other utility-scale solar generation are essential to meaningful reductions in carbon emissions," said Michael Stein, chief executive officer of Genie Energy. "Now, improved economics are driving strong project demand in our current markets and energizing implementation of solar generation initiatives in new markets across the country."
Genie Renewables also announced that it received a favorable CESIR (Coordinated Electric System Interconnection Review) and estimate of interconnection cost from Con-Ed for its 3 MW proposed community solar project in Downstate New York. The company expects to receive its Notice To Proceed and begin construction in the coming months subject to negotiating a land lease and obtaining local permits.
