Novis Renewables’ North Eagle Village, Green Lakes, and Judd Rd Solar Farms in the State of New York reach Commercial Operation
PRESS RELEASE
Novis Renewables’ North Eagle Village, Green Lakes, and Judd Rd Solar Farms in the State of New York
reach Commercial Operation
Irvington/Milan, 19 April 2022 – Novis Renewables Holdings, LLC, the US partnership for the development of solar, onshore wind and storage between Falck Renewables North America Inc. and Eni New Energy US Inc., a fully owned subsidiary of Plenitude (Eni), adds 22.5 MW of new solar capacity with its North Eagle Village (Manlius, NY), Green Lakes (Manlius, NY), and Judd Rd (Whitestown, NY) plants reaching Commercial Operations Date (COD).
Each solar project (7.5 MW) is expected to produce around 9 GWh of clean electricity annually, the equivalent to the consumption of around 860 US households.
All projects have been conceived with a strong community engagement approach. For the first 25 years of operation, revenues from the three projects will be generated and contracted via the VDER* community solar program, which allows commercial and residential subscribers to utilize bill credits generated by the project. These bill credits are allocated towards subscribers’ electricity bill, typically lowering monthly electricity costs by around 10%.
In addition to revenue generated from the VDER program, North Eagle Village, Green Lakes, and Judd Rd will also receive cash incentives from 2 NYSERDA** programs (NY-Sun and Community Credit). At the end of the 25-year VDER program, all projects will earn revenue via merchant sale of energy, capacity and Renewable Energy Certificates (RECs).
*VDER: Value of Distributed Energy Resources
**NYSERDA: New York State Energy Research and Development Authority
Novis Renewables’ Green Lakes Solar Farm in Manlius (NY, USA)
Novis Renewables’ North Eagle Village Solar Farm in Manlius (NY, USA)
Novis Renewables’ Judd Rd Solar Farm in Whitestown (NY, USA)
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Novis Renewables Holdings, LLC (“NRH”) is 51% controlled by Falck Renewables North America Inc. and 49% owned by Eni New Energy US, LLC. NRH operates 242 MW of solar assets, 30 MW of wind, and a 6.6 MWh battery system in the US. NRH is consolidated line by line by Falck Renewables S.p.A. Through its Affiliate development business, Novis Renewables, LLC which is a 50/50 partnership between Falck Renewables North America and Eni New Energy US, a fully owned subsidiary of Plenitude (Eni), Novis has acquired an additional 680 MW of solar assets and 200 MW/400 MWh battery energy storage development.
Contacts:
Falck Renewables
Giorgio Botta – Investor Relations – Tel. +39 02 2433 3338
Elena Roda – Media Relations – Tel. + 39 02 2433 2297
SEC Newgate S.p.A.
Daniele Pinosa, Fabio Leoni, Fabio Santilio – Tel. +39 02 6249991
CDR Communication
Vincenza Colucci – Tel. +39 335 6909547
Contacts Eni:
Press Office: Tel. +39 02.52031875, +39 06.59822030
Freephone for shareholders (from Italy): 800 940924
Freephone for shareholders (from abroad): +800 11223456
Switchboard: +39.0659821
[email protected]
[email protected]
[email protected]
Website: www.eni.com