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Direct Energy Business secures PPA with Cardinal Renewables, a partnership between the Carlyle Group and Alchemy Renewable Energy

Cardinal Renewables, a strategic partnership between the global investment firm, The Carlyle Group, and Alchemy Renewable Energy, an industry leader in renewable energy projects and tax equity financing, has secured a power purchase agreement (PPA) with Direct Energy Business, one of North America’s largest retail providers of electricity, natural gas, and home business energy-related services, through Twittys Creek Solar, LLC, supporting construction of its a 14 MWAC solar power installation located in Charlotte County, Virginia.

Providing a lasting clean energy alternative to traditional fossil fuels, Twittys Creek reduces the amount of harmful carbon emissions released into the atmosphere. The new solar installation, developed by Holocene Clean Energy, is expected to be operational in December 2020.

“We are excited to expand our operations with Twittys Creek, allowing us to broaden our coverage into Virginia and launching us one step closer to the clean energy transition,” said Lacie Clark, CEO of Alchemy Renewable Energy. “The project would not have been possible without our joint venture with Carlyle, and collaboration with Direct Energy Business and Holocene Clean Energy.”

The new installation spans approximately 75-acres and will generate nearly 14 MWAC of clean power, which is estimated to offset over 700,000 Mt CO2e over 40 years of operation. This emissions reduction is equivalent to powering about 2,250 homes, removing nearly 4,125 passenger cars from the road, or reducing gasoline consumption by 2.1 million gallons every year the project generates electricity. By adding a new, renewable energy generation source to the grid, Twittys Creek Solar, LLC, fosters a cleaner future for power supply.

“Each of our renewable energy projects creates new power generation assets for the United States,” said Pooja Goyal, Co-Head of the Infrastructure Group at The Carlyle Group. “Twittys Creek Solar, LLC, is expected to have a positive impact on the community of Charlotte County and the region by providing a clean energy source that is intended to provide efficient power delivery, improve the environment, and reduce dependency on fossil fuels.”

“We appreciate our collaboration with Cardinal Renewables and Direct Energy Business, who ultimately helped give life to the project. After working so closely with our partners and Charlotte County, seeing the stakes put into the ground was a truly joyful moment for our team,” said Laura Tillett, Business Development at Holocene Clean Energy.

“Direct Energy is proud to have partnered with Holocene and Cardinal Renewables to commence construction on Twittys Creek. It is important for us to have sustainable assets as part of our supply portfolio to assist our customers in achieving their carbon reduction goals,” said Ray Polakowski, Manager of Wholesale Origination for Direct Energy Business. 

“Competitive markets drive cost-effective renewable energy adoption and create associated localized economic development benefits. This 14 MWAC solar project located in Charlotte County, Virginia will benefit the community and consumers,” said Ron Cerniglia, Direct Energy’s Director of Corporate & Regulatory Affairs.  

 

Direct Energy is one of North America’s largest retail providers of electricity, natural gas and energy-related services to over three million homes and business. It is part of Centrica plc (LSE: CNA), a leading international energy services and solutions provider that is founded on a 200-year heritage of serving people. Direct Energy, its subsidiaries and/or affiliates, operate in 50 U.S. states plus the District of Columbia and 8 provinces in Canada. We are focused on satisfying the changing needs of our customers, enabling them to transition to a lower carbon future. Our aim is to reduce emissions in line with Paris goals by 2030 and develop a path to net zero by 2050.


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