Correlate Infrastructure Partners (OTCQB: CIPI) has entered into a joint venture (“JV”) agreement with eDGe Renewable Partners, a trusted financial manager that partners with renewable energy entrepreneurs to ensure their businesses are well capitalized, sustainable and ready for exponential growth. Called the Distributed Energy Capital agreement, the JV outlines a 50/50 partnership with initial financing targets up to $100 million and focuses on the development of solar energy projects dedicated to distributed energy initiatives and microgrids around the country. The announcement noted that Correlate is “immensely excited” about the opportunity to collaborate with eDGe to establish a nondilutive project finance platform designed to expedite growth of certain projects. The announcement observed that interconnection queue backlog is worsening, resulting in the increased need for distributed energy resources for generation, backup power and resiliency. “Distributed Energy Capital will play a pivotal role in addressing the pressing need for microgrid and distributed infrastructure development at scale,” said Correlate Infrastructure Partners CEO Todd Michaels in the press release. “By providing early-stage development capital, paired with Correlate’s unique technical expertise, our vetted developers can deliver on key milestones while investors can confidently place a greater volume of capital. Currently, the few capital-only offerings in the market for distributed projects are inherently inept for the current opportunity in our view. We know this offering is unique based on strong developer engagements already underway.”
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About Correlate Infrastructure Partners Inc.
Correlate Infrastructure Partners is a publicly traded company strategically positioned to capitalize on America’s unstoppable trend toward decentralized energy generation. The company employs a three-pronged strategy aimed at creating stockholder value from this multitrillion-dollar trend. First, Correlate seeks to finance, develop and profitably sell localized clean-energy solutions and microgrids to industrial, commercial and residential customers. Secondly, Correlate plans to retain ownership of some of these energy systems and thereby realize ongoing, reliable cash flow. Third, Correlate seeks to acquire proven renewable energy companies in order to exponentially grow earnings per share for investors. Correlate’s management and board consist of industry experts who, during their careers, have successfully financed, developed and installed more than $2 billion of clean-energy projects for their clients. For more information about the company, please visit www.CorrelateInfra.com.
NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at https://ibn.fm/CIPI
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