Sunlight Energy acquires northeast Indiana solar project
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New Jersey-based Sunlight Energy Investments is adding to its solar portfolio with the acquisition of a late-stage solar development project in northeast Indiana.
While financial details were not disclosed, the company said the solar array in Hamilton will provide power to two area schools.
Sunlight Energy Investments is a subsidiary of retail energy and renewable energy services provider Genie Energy Ltd. The company said the Hamilton acquisition adds to the 12 operational solar arrays that also serve educational facilities in Ohio and Michigan.
“The Hamilton project acquisition fits perfectly with our growing portfolio of solar projects providing long-term, stable cash flows,” Sunlight Energy CEO Nir Ashpiz said in a news release. “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 has a direct, fixed-price solar power purchase agreement to provide energy generated from the solar array to Hamilton Community High School and Hamilton Community Elementary School.
A timeline for the solar array’s completion was not provided. Sunlight Energy did not respond to multiple requests for more information from Inside INdiana Business.