[February 22, 2016, New York, New York] — Greenwood Energy, now Greenwood Sustainable Infrastructure (GSI), today announced it will finance and own a 2.9-megawatt (MW) capacity solar energy installation for Ithaca College. The array is located 40 miles from campus in Seneca, New York, but will meet 10% of the college’s electricity needs through virtual net metering and will be one of the largest for a higher education institution in New York State once complete.
“Smart policy innovations like virtual net metering further extend the economic and environmental benefits of solar power for New York’s educational and business communities,” said Camilo Patrignani, CEO of Greenwood Energy. “This installation brings Ithaca College one step closer to both New York’s 50% renewable energy target and America’s low-carbon energy future.”
The project is being built and financed through a 25-year power purchase agreement along with incentives from the New York State Energy Research and Development Authority’s NY-SUN program. The Ithaca College project adds to the over 95MW of renewable energy projects Greenwood has developed in the United States, and will help the school meet its goal of 100% carbon neutrality by 2050.
“This is a significant milestone in the history of Ithaca College, and in our commitment to sustainability,” said President Tom Rochon. “We are proud to be making this tremendous leap forward in environmental stewardship on behalf of our students, faculty, staff and alumni as well as the wider community in which we all live.”
About Greenwood Sustainable Infrastructure
Greenwood Sustainable Infrastructure (GSI) (www.greenwoodinfra.com) is one of the clean energy subsidiaries of Libra Group. GSI is a renewable energy company focused on the development, construction and operation of distributed generation and utility-scale solar energy and battery storage projects in North America. As of March 2023, the company developed approximately 178 MW across 43 renewable energy projects, many of which are still owned or operated by GSI, and has an additional project pipeline of 1.6 GW. GSI’s seasoned team also has a proven track-record investing in power assets and partnering with multiple top-tiered investors.