NEW YORK, Dec. 16, 2020 /PRNewswire/ -- Community
Power Partners, LLC ("CPP"), a rapidly growing community solar
aggregation company, today announced a joint venture with Genie
Energy, Ltd. subsidiary CityCom Solar, LLC ("CityCom Solar"), a
marketer of community generated solar energy directly to end users
throughout New York State.
The joint venture, CPP Genie Community Solar, LLC, will provide
customer aggregation and management services to New York's independent solar power producers
operating under the State's consolidated billing programs.
Consolidated billing programs enable customers to receive credits
from their electricity supplier for power generated by community
solar programs.
"CPP is extremely excited to partner with CityCom Solar.
Together, we will offer a comprehensive package of benefits to
community solar producers operating through NYSERDA's NY-Sun
program," said Michael Mollin,
Co-Founder and Managing Director of Community Power Partners.
"The venture will initially focus on serving community solar
projects within the territory of National Grid, the first utility
to offer consolidated billing through its community distributed
generation initiative."
Since its inception in April of 2018, CPP has enrolled mass
market community solar customers representing over 70 MW including
over 60 MW enrolled during 2020. With deep customer aggregation,
solar project development and financing knowledge, CPP has a track
record of successfully enrolling mass market customers in
New York's community solar
projects.
CityCom Solar brings a team of energy industry veterans with
extensive customer acquisition and marketing experience.
"Given our long tenure of operations in New York State coupled with our experience
working with CPP in the State's community solar effort, this
partnership is a natural extension of our core capabilities as both
a traditional energy supplier and community solar services
provider," said Michael Stein, Genie
Energy's Chief Executive Officer. "We look forward to working
closely with the CPP team to develop new community solar projects
and bring their many benefits to families and businesses across the
State."
About Genie Energy Ltd.:
Genie Energy Ltd. (NYSE: GNE,
GNEPRA), is a global provider of energy services. The Genie
Retail Energy division supplies electricity, including electricity
from renewable resources, and natural gas to residential and small
business customers in the United
States. The Genie Retail Energy International division
supplies customers in Europe and
Asia. The Genie Energy Services division includes Diversegy,
a commercial and industrial brokerage and consultative services
company, and Genie Solar Energy and Prism Solar, which design,
supply and install commercial solar solutions. For more
information, visit Genie.com.
ABOUT COMMUNITY POWER PARTNERS
CPP is the leading
Community Solar Customer Aggregation Firm in New York. As an affiliate of Matrix Solar
Development, a New York based
Community Solar Developer, and stemming from professionals with
over 60 years of combined experience in real estate development,
energy sales and renewable energy development, CPP leverages their
expertise to offer the most compelling and effective Community
Solar Customer Aggregation product on the market.
Launched in April 2018 CPP was
initially formed to fill a void in the Customer Aggregation space
that became apparent during the due diligence process for Community
Solar Customer Aggregation and Subscription Management for its own
portfolio. Due to inefficiencies and strong demand in the market,
CPP has since expanded its service offering to other Community
Solar Developers, Subscription Management Companies and Asset
Owners Nationwide. For more information, visit
www.communitypowerpartners.com
ABOUT CityCom Solar, LLC
CityCom Solar, LLC is a
subsidiary of Genie Energy, Ltd. (NYSE:GNE) offering subscription
and marketing services to maximize the uptake of customers for
Community Distributed Generation (CDG) projects throughout
the United States. For more
information, visit www.SolarSavingsForAll.com
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SOURCE Genie Energy Ltd.