DENVER–(BUSINESS WIRE)–Sept. 15, 2022–
Redeux Energy Partners LLC (Redeux), a developer of large-scale solar and energy storage projects, today announces its continued momentum, including:
- Exceeded 2022 development goals for market coverage, leased square footage and multi-gigawatt capacity of projects with filed interconnect
- Signed a multi-state land lease with Farmland Partners Inc. (NYSE: REIT), the nation’s largest publicly traded farmland REIT by land area in the United States
- The addition of five senior team members, bringing decades of experience with some of the largest renewable energy companies, to anchor its platform
Redeux’s development pipeline consists of major hybrid solar and storage projects within the Midcontinent Independent System Operator (MISO), Electric Reliability Council of Texas (ERCOT), Southeastern Electric Reliability Council (SERC), and Western Electricity Coordinating Council (WECC). Currently totaling over 1.7 GW of capacity – of which over 80% is deposited for interconnection – Redeux is on track to exceed 2 GW of pipeline capacity by the end of the year, an increase of 400 % from year-end 2021. Site-controlled acreage totals over 20,000 acres in eight states, with over 10,000 additional acres under active negotiation. The company’s platform and processes deliver the efficiency and scale needed to produce gigawatts of high-quality clean energy project pipeline each year.
Since 2020, Redeux has been working with a number of large landowners in the agriculture, timber, livestock and resource extraction sectors to assess opportunities for developing projects that increase the value of their land . A prime example of this type of mutually beneficial partnership is the recently announced lease agreement with FPI whereby Redeux will develop several projects on several diverse agricultural sites in Arkansas and Mississippi totaling approximately 2,800 acres. The projects, where Redeux has also signed leases with adjacent landowners, are located under Entergy transmission lines operated in the MISO energy market.
“The company is pleased with the year-to-date results and the recent increase in speed,” said Rob Masinter, COO of Redeux. “In addition to expanding our top land acquisition and development teams, Redeux has added leadership positions in market strategy, land acquisition and corporate development and will add leadership positions to oversee our engineering and permitting activities in the coming months.”
The new members of Redeux’s management and development team bring decades of experience in the development and operation of large-scale solar and energy storage infrastructure. Recent additions include:
– Garett Gill, Vice President, Land, brings over 23 years of land acquisition experience. Prior to Redeux, Gill served as Power Group Executive Vice President at Contract Land Staff (CLS).
– Mark Raventos, Vice President, Corporate Development, brings over 17 years of experience in renewable energy development and mergers and acquisitions in America, India and EMEA with Acciona Energy.
– Steve Drew, Vice President, Market Strategyhas over 20 years of experience in the development and management of competitive transmission and renewable energy with Borrego, NextEra and OG&E.
– Andrew Makee, Director, Development, brings over 13 years of large-scale wind and solar development with Avangrid and Orion Renewables in the MISO, SERC, SPP and ERCOT markets.
– Dan White, Director, Development, brings over 12 years of large-scale solar, wind, energy storage and natural gas development with National Grid and Southern Power in the SERC, ERCOT, CAISO and WECC markets.
Over the next 18 months, Redeux will expand its platform capabilities as well as the geographic reach of its exploration activities and project pipeline into at least 15 states in the MISO, ERCOT, Southwest Power Pool power markets (SPP), SERC and WECC. Redeux’s corporate development focuses on executing early-stage acquisitions and forming partnerships with entities that will ultimately acquire its projects.
“The success to date has been remarkable,” said William Harrison, CEO of Cathexis Holdings, Redeux’s largest shareholder. “The team has developed a best-in-class platform of analytics, technology, process and people that produces a massive volume of high-quality renewable energy projects. Our financial commitment will support Redeux’s continued scale and acceleration to contribute significantly to the pace of project deployment required to meet U.S. public and private sector clean energy goals.
About Redeux Energy
Redeux Energy is a utility-scale solar and storage development company with expertise in a range of strategies to transform greenfield, brownfield and industrial land into renewable energy infrastructure that generates new revenue streams, meet ESG objectives, and meet local economic and workforce development needs.
About Our Capital Sponsors
Cathexis Holdings is a Houston-based, multi-billion dollar, one-person family office. A diversified, multi-strategy group, Cathexis has active investments across all sectors, including private equity, venture capital, real estate, infrastructure, energy, consumer products and technology.
Thoroughbred Holdings originates investments in world-class infrastructure, energy and natural resource assets and provides advisory services to launch, restructure and grow these businesses. The company invests in terminals and logistics, mining, agriculture, production of renewable raw materials and clean energy infrastructure, usually with co-investment from leading private equity partners.
Show source version on businesswire.com:https://www.businesswire.com/news/home/20220915005292/en/
KEYWORD: COLORADO UNITED STATES NORTH AMERICA
SECTOR KEYWORD: OTHER ENERGY ENVIRONMENT ALTERNATIVE ENERGY ENERGY CONSTRUCTION & REAL ESTATE
SOURCE: Redeux Energy Partners LLC
Copyright BusinessWire 2022.
PUBLISHED: 09/15/2022 11:00 AM / DISK: 09/15/2022 11:03 AM