Correlate Energy (OTCQB: CIPI), a growth-oriented distributed energy company, wrapped up a live investor summit webinar recently following the news that it had landed a major microgrid deal with one of California’s largest privately owned oil and gas corporations. According to the announcement, the microgrid project is the company’s largest deal to date and involves the development of 40 megawatts of solar power and storage capacity across 20 sites located throughout the Los Angeles metro area. The announcement noted that microgrids are independent, local power grids that power anything from a single building to an entire community, and sustainable ones, such as those Correlate is building, can provide cheaper, cleaner and more reliable energy. The company observed that the microgrid deal with, which is Correlate’s official entry into the microgrid market, marks the achievement of a key 2023 milestone and puts the country a step closer to reaching the 2030 distributed renewable energy target. “The first phase of the project is projected to exceed $23 million and will serve as a blueprint for similar collaborations with other companies in the oil and gas sector,” said the company in the press release. “The California Oil and Gas Corporation operates multiple locations with a total load of 100 megawatts and needs to achieve net zero to comply with the state’s ambitious climate policy — AB 32 Climate Change Scoping Plan — under which 100% of California’s electricity must be zero emission by 2045. The 40 megawatts of solar and storage capacity that Correlate will develop as part of the deal puts the oil and gas corporation well on the way toward achieving that target.”
To view the full press release, visit https://ibn.fm/CbaKD
About Correlate Energy Corp.
Correlate Energy is a publicly traded company strategically positioned to capitalize on America’s unstoppable trend toward decentralized energy generation. The company employs a three-pronged strategy aimed at creating stockholder value from this multitrillion-dollar trend. First, Correlate seeks to finance, develop and profitably sell localized clean-energy solutions and microgrids to industrial, commercial and residential customers. Second, Correlate plans to retain ownership of some of these energy systems and thereby realize ongoing, reliable cash flow. Third, Correlate seeks to acquire proven renewable energy companies in order to exponentially grow earnings per share for investors. Correlate’s management and board consist of industry experts who, during their careers, have successfully financed, developed and installed more than $2 billion of clean-energy projects for their clients. For more information about the company, please visit www.Correlate.Energy.
NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at https://ibn.fm/CIPI
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