Greenwood Energy Announces Solar Project at Ithaca College in New York

Ithaca, NY – February 22, 2016

Sunrise New York

Greenwood Energy 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 percent 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 percent 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 percent 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.”

 

 

Greenwood Energy CEO Camilo Patrignani On The “Big Question Facing Solar In 2016”

This post was originally published at Renewable Energy World on February 15, 2016

Greenwood Energy CEO Camilo Patrignani contributed his perspective to Renewable Energy World’s “Big Question” feature exploring concerns for America’s solar industry in 2016:

“The big issue facing solar developers in 2016 was of course overcoming the expected Investment Tax Credit cliff. But since the ITC was extended, we’re shifting focus to state-level fights over the valuation of solar electricity through net metering policy. Efforts to artificially devalue distributed solar output lower by reducing net metering incentives or limiting future growth by preventing net metering cap expansion made news during 2015 in states as diverse as Florida, Hawaii, Arizona, and Massachusetts – and considering solar’s projected growth, we will face renewed assaults in 2016.”

“Utilities and regulators are just starting to shape the future of valuing solar electricity, and unless solar owners are accurately paid the true worth of the clean (and free) power they contribute to the grid beyond their on-site demand, many projects aren’t economically viable for customers. Policymakers in states like California and New York should be applauded for their forward-looking efforts to set rate structures acceptable to utilities and customers, and resources like the annual Freeing the Grid report or the quarterly 50 States of Solar summary provide helpful lessons for regulators looking to find a middle ground which allows utilities, solar developers, and customers to all benefit from the power of solar energy.”

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This full article is available online at http://www.renewableenergyworld.com/articles/2016/02/the-big-question-day-1-what-is-your-greatest-concern-for-your-industry-in-2016.html

Greenwood Energy announces Ricardo Hernandez as new Vice President of Corporate Accounting

International renewable energy company Greenwood Energy today announced Ricardo Hernandez as their new Vice President of Corporate Accounting.

“Latin America is one of the most exciting growth markets for renewable energy, but nuanced and diverse financial regulations across the region require skilled abilities and local experience for successful deployment,” said Camilo Patrignani, Greenwood Energy CEO. “Ricardo has the right mix of international experience and financial analysis acumen to help Greenwood grow in Latin America and across the world.” 

Ricardo is responsible overall for the financial analysis, accounting and reporting functions within Greenwood Energy.

Ricardo is a graduate of UCAB University, Venezuela with a BA in Accounting, and is a CPA and CMA

Greenwood Energy Commits to the American Business Act on Climate Pledge

Greenwood Energy has joined the United States’ climate action effort by committing to the American Business Act on Climate Pledge. Through the pledge, Greenwood is demonstrating its support for action on climate change and a strong international agreement at the United Nations’ COP21 climate summit by promising to increase its low-carbon investments and deploy new renewable energy generation resources.

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White House logo by U.S. federal government [Public domain], via Wikimedia Commons

Greenwood’s pledge includes the following actions:

  • By the end of 2016, develop and construct over 100 megawatts (MW) of incremental solar photovoltaic (PV) capacity for commercial and industrial (C&I) customers throughout the U.S., reducing carbon emissions approximately 90,000 metric tons per year.
  • By the end of 2017, develop and construct over 200MW of distributed generation renewable energy projects for C&I customers across Latin America.
  • Support the deployment of distributed solar PV and energy storage technologies with C&I companies across the U.S. and Latin Americas to make electricity delivery as efficient as possible with the lowest carbon footprint.
  • Expand Greenwood’s business model to integrate additional clean energy technologies such as energy efficiency and demand management.

“We are passionate about America’s renewable energy future and have committed our resources and team to empowering our customers to secure a low-carbon energy future,” said Camilo Patrignani, CEO of Greenwood Energy.

Since 2006, Greenwood has developed over 95MW of renewable energy projects in the U.S., reducing carbon emissions by an estimated 85,000 metric tons per year, the equivalent CO2 emissions of nearly 46,000 tons of coal.

A total of 154 companies have signed the American Business Act on Climate Pledge to date and these companies have operations in all 50 U.S. states, employ nearly 11 million people, represent over $4.2 trillion in annual revenue, and have a combined market capitalization of over $7 trillion. A full list of pledges is available at: www.whitehouse.gov/the-press-office/2015/11/30/white-house-announces-additional-commitments-american-business-act

Greenwood Energy CEO Camilo Patrigani Speaks At Solar Finance & Investment Conference

Greenwood Energy CEO Camilo Patrignani joined solar industry leaders and financial market analysts at the Solar Finance & Investment USA conference on October 28th in New York City. Camilo was featured on the U.S. companies moving to Latin America and the Caribbean panel session.

Camilo joined Nick Holman, BNRG Director, to provide policy updates from key countries including Chile, Brazil, Mexico, and Panama; discuss which financing structures work for renewable energy projects in each market; how developers should deal with political and currency risk; and the value of analyzing joint ventures and acquisitions among local developers.

For more information, visit the Solar Finance & Investment USA conference online at http://financeusa.solarenergyevents.com/

 

Greenwood Energy CEO Camilo Patrignani On Why “Solar Is the Opportunity Of A Lifetime”

This post was originally published at PV Tech on October 22, 2015

On one hand, solar financing has never been in better shape. Cost reductions and favorable policy in an increasing number of countries have cemented solar as a mainstream investment option and opened up new routes to cheap capital. But on the other hand large challenges loom, including the U.S. Investment Tax Credit step-down and the long-term sustainability of the yieldco goldrush.

Camilo Patrignani, CEO of US-based developer Greenwood Energy and speaker at the Solar Investment & Finance USA event, discusses the big topics on his radar and why investors are licking their lips at the opportunities offered by solar.

 

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This full article is available online at www.pv-tech.org/interviews/pv_talk_why_investors_think_solar_is_the_opportunity_of_a_lifetime

 

Greenwood Energy CEO Discusses Lessons Learned In Latin America’s Solar Market

This podcast was originally published at Suncast on October 20, 2015

Latin America is one of the world’s most promising solar markets, but local nuances and common pitfalls also make it one of the most challenging for international developers.

Camilo Patrignani, CEO of US-based developer Greenwood Energy, discusses lessons learned in Latin America and why distributed generation projects may make more sense than utility-scale development in this fast-growing market.

This full podcast is available online at http://www.mysuncast.com/suncast-episodes/2015/10/20/episode-003-when-will-solar-be-free-with-camilo-patrignani-of-greenwood-energy

Greenwood Energy CEO Camilo Patrignani On Why “Solar Is the Opportunity Of A Lifetime”

This post was originally published at PV Tech on October 22, 2015

On one hand, solar financing has never been in better shape. Cost reductions and favorable policy in an increasing number of countries have cemented solar as a mainstream investment option and opened up new routes to cheap capital. But on the other hand large challenges loom, including the U.S. Investment Tax Credit step-down and the long-term sustainability of the yieldco goldrush.

Camilo Patrignani, CEO of US-based developer Greenwood Energy and speaker at the Solar Investment & Finance USA event, discusses the big topics on his radar and why investors are licking their lips at the opportunities offered by solar.

 

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This full article is available online at www.pv-tech.org/interviews/pv_talk_why_investors_think_solar_is_the_opportunity_of_a_lifetime

Greenwood Energy CEO Camilo Patrignani Leads Discussion At 2015 Concordia Summit

FullSizeRenderGreenwood Energy CEO Camilo Patrignani joined internationally recognized energy and climate leaders at the 2015 Concordia Summit on October 1st in New York City to lead the plenary session Emerging Climate Economies: A Roadmap to Global Energy Security.

Camilo lead the panel featuring Felipe Calderon, former President of the United Mexican States, and Andres Gluski, President and Chief Executive Officer of the AES Corporation. Their discussion covered the role solar power and wind energy can play in expanding domestic energy security, reducing imported energy costs and harmful carbon emissions, and reaching international climate goals across emerging economies in Central America, the Caribbean, and South America.

Watch the full panel at: https://www.youtube.com/watch?v=HfBxAlxsVXE

For more information, visit Concordia online at www.concordia.net/the-summit-2015/

 

Greenwood Energy CEO Camilo Patrignani To Participate In 2015 Concordia Summit

Greenwood Energy CEO Camilo Patrignani will join internationally recognized energy and climate leaders at the 2015 Concordia Summit on October 1-2 in New York City. Camilo will interview Felipe Calderón Hinojosa, former President of the United Mexican States and Chair of The Global Commission on the Economy and Climate for The New Climate Economy; and Andrés Gluski, President and CEO of the AES Corporation, on the October 1st, in the plenary session, Emerging Climate Economies: A Roadmap to Global Energy Security. The discussion will explore the role solar power and wind energy can play in expanding domestic energy security, reducing imported energy costs and harmful carbon emissions, and reaching international climate goals across emerging economies in Central America, the Caribbean, and South America.