RAI Energy International, Inc. (“RAI”), the global renewable energy development company, announced it has acquired an ownership interest in a 70 megawatt (MW) solar farm from Hamilton Energy Resource Opportunities LLC (HERO). With this acquisition, RAI further strengthens and diversifies its North American solar portfolio.
The HERO project is currently in advanced development in Hamilton County, Fla. and is expected to enter operation in 2019. RAI now serves as co-developer for the HERO project along with Jack Levine and the HERO team.
Jack Levine, HERO's Managing Director and Founder, said, "We're excited to bring RAI's 75 years of energy sector experience to this project. RAI will help us ensure we can meet growing demand for solar energy in Florida. We want to continue to acknowledge the exceptional and ongoing support and assistance of Hamilton County, its Economic Development Authority, County Commissioners, officials and citizens without whom the project’s road to completion would not have been possible”.
HERO recently requested Duke Energy Florida to undertake a restudy to ensure the project taps the maximum technological efficiencies currently available. RAI and HERO are eagerly anticipating those study results and the subsequent construction of the project.
“RAI is encouraged to see more favorable market conditions in the Florida solar energy sector as evidenced by Duke Energy’s and Tampa Electric Company’s recent announcements to add 700 MW and 600 MW, respectively, of solar energy,” said RAI President and CEO Mohammed S. Alrai.
“Now, more than ever, Florida is looking to develop new sources of solar energy,” continued Alrai. “The HERO project is an exciting opportunity to provide Florida customers with clean, reliable and affordable solar generation. We look forward to partnering with HERO and Hamilton County to bring this important new renewable energy project online.”
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