Sol Systems and Onyx Renewable Partners Enter Agreement on 24 Megawatt Solar Distributed Generation Portfolio
Empowering Communities and Advancing Clean Energy with Distributed Solar and Storage Portfolio in Five States
WASHINGTON – Feb. 28, 2024 – Today, Onyx Renewable Partners, LP (Onyx) and Sol Systems LLC (Sol) jointly announce an agreement for the purchase and sale of a 24 megawatt (MWdc) solar and storage development portfolio that will provide clean, reliable power to businesses and communities across five states. Sol originated and developed the portfolio’s eight distributed generation (DG) solar and storage projects and remains committed to its customers through continued and active engagement in customer and project coordination activities. Onyx, an established provider and owner of clean energy solutions, has acquired the projects and will finance, build, own and operate them.
These innovative on-site solar and storage projects, located in California, Illinois, Maryland, Massachusetts, and New York, are set to power a diverse range of customers, including a Massachusetts municipality and multiple Fortune 500 companies. The investments stemming from these projects will add millions of dollars into local communities, usher in new job opportunities, stimulate economic growth, and bolster the commitment of the Fortune 500 companies embracing clean energy solutions. Sol Systems’ and Onyx’s commitment to community engagement extends beyond construction and economic investment. The portfolio will produce enough electricity to power 3,285 homes, provide thousands of dollars in scholarships and other local sponsorships, and include the use of native pollinator habitat at one ground-mounted project.
"Sol Systems is dedicated to advancing clean energy for our corporate partners and ensuring lasting benefits for the communities we work in. Our partnership with Onyx highlights our ongoing commitment to deploying clean energy projects with a focus on community engagement and excellence in solar and storage development. Sol values the longstanding relationships we have built with our customers, and we're excited to continue playing a pivotal role in supporting the broader transition to sustainable energy as these projects move into construction and operations.” said Andrew Grin, Senior Vice President of Enterprise Solutions for Sol Systems. “Sol has built more than 250MWs of DG solar and storage projects and is proud to work with the Onyx team to continue deploying more renewable energy for our valued customers.”
“Onyx is pleased to partner with Sol Systems to bring resilient and affordable clean energy to businesses and communities surrounding these projects. The Onyx team has experience developing over 11 GW of solar projects, and the Company has served commercial and industrial customers, providing energy as a service and managing DG solar assets for a decade,” said Patty Rollin, Chief Commercial Officer of Onyx. “The Onyx team is committed to helping companies create the bridge from today’s clean energy reality to tomorrow’s possibilities.”
The 24 megawatt portfolio is expected to be completed by Q1 2025 and will offset approximately 16,000 metric tons of carbon emissions each year.
About Sol Systems LLC
Sol Systems is a leading national renewable energy firm with an established reputation for integrity and reliability across its development, infrastructure, and environmental commodity businesses. Sol is operating and building over 2 GW of solar projects valued at over $2 billion for Fortune 500 companies, municipalities, counties, utilities, universities, and schools and provides environmental commodity portfolio management services to more than 40,000 customers across the US. The company was founded in 2008, is based in Washington, D.C., and is led by its founder. Sol Systems works with institutional clients, corporate partners, and foundations to create a more sustainable future we can all believe in. For more information, visit https://www.solsystems.com/.
Media Contact: Jacqueline Mayan
jacqueline.mayan@solsystems.com
(202) 656-4815
About Onyx Renewable Partners, LP
Onyx is one of the most established providers of distributed clean energy solutions to commercial and industrial customers across the United States. Formed in 2014, the Company has completed over 340 projects and currently operates in 14 states. Onyx ensures expert guidance at every step for commercial and industrial customers. From solar energy and storage to electric vehicle charging and beyond, Onyx partners with clients from the beginning and focuses on creating a long-term relationship for the life of the asset. The Company designs, develops, finances, constructs, operates, and maintains projects and portfolios. Onyx also partners with solar developers to source, acquire, finance and manage clean energy projects under long term agreements with commercial and industrial customers. The goal is to leverage Onyx’s wide-ranging industry expertise to transform energy and regulatory complexities into simple clean energy solutions to reduce carbon emissions. For more information, visit https://www.onyxrenewables.com.
Media Contact: Kevin Cox
origination@onyxrenewables.com
(646) 217-0713