Correlate Infrastructure Partners Inc. (CIPI) has successfully secured $11.9 million for its EnerSys solar project in Reading, Pennsylvania, in partnership with Green Bridge Energy. The project, originally planned as a 3.8 MW installation, has been expanded to 5.2 MW and is set to begin installation in the third quarter of 2023. Once completed, it will be one of the largest corporate solar installations in Pennsylvania, showcasing CIPI’s expertise in distributed energy and commitment to advancing solar development in the state. The project aligns with CIPI’s goal of supporting long-term sustainability objectives and decarbonizing the supply chain.
Todd Michaels, CEO of Correlate, expressed pride in securing the capital and highlighted the partnership with EnerSys as a means of advancing solar development in Pennsylvania while helping to decarbonize the supply chain. The CFO of Correlate, Channing Chen, emphasized the importance of efficient financing for scaling distributed energy, and Green Bridge CEO Byrne Huddleston highlighted the value created through partnerships in meeting the growing demand for resilient, clean energy.
EnerSys, a global leader in stored energy solutions, aims to address energy efficiency, reliability, and sustainability challenges. The project represents a significant step in the clean energy transition for corporate infrastructure as a whole, demonstrating the increasing demand for clean energy solutions among corporates and real estate owners in the United States.