BayWa r.e. and Geenex Solar LLC have joined forces to develop an initial portfolio of projects in North Carolina and Virginia totaling 350MW. The first collaboration is a 5MW project located in Northampton, North Carolina. The Hemlock project has started construction and is scheduled to be completed by the end of 2016. The parties plan to begin constructing the next projects over the coming months with energy deliveries from the portfolio expected in 2017 and 2018.
The projects range in size from 20 to 100MW and are in different stages of development. BayWa r.e. will provide turn-key engineering, procurement, construction, financing and O&M, while Geenex will utilize its local expertise to drive development activities.
By partnering from the earliest stages of development, the parties provide continuity and a full service solution throughout the lifecycle of the project, ensuring the highest quality assets and customer engagement. BayWa r.e. and Geenex intend to expand the scope and scale of the partnership over the coming years to better serve customer needs with integrated, renewable energy solutions.
"BayWa r.e.'s expertise in design, construction and operation, combined with our financial strength, ideally positioned us to partner with Geenex. Their expertise in development and local knowledge enable us to take the necessary steps to make these major investments," commented Jam Attari, CEO BayWa r.e. Solar Projects LLC.
"We are very pleased to collaborate with BayWa r.e. who has proven to be a strong and committed partner that shares our vision of community involvement and clean power production. We have a long term plan in the region which now moves into the second phase. Our pipeline is unfolding while being continuously expanded," stated Georg Veit, CEO of Geenex.
Geenex and BayWa r.e. share a commitment to invest in local communities and expect to positively impact the local economy through increased tax revenue, job creation and community development.