CLIMATE RESILIENCE Cardinal Renewables Case Study
Carlyle’s 2020 Impact Report
Electricity generation is one of the largest sources of global greenhouse gas emissions, accounting for approximately 28% of U.S. emissions alone – almost two-thirds of our electricity comes from burning fossil fuels. As renewable energy costs continue to fall, regulations tighten, and the energy transition accelerates, however, there is a large and growing investment opportunity in building the renewable energy capacity required to power a lower-carbon US electricity grid.
In 2019 Carlyle’s Renewable and Sustainable Energy Platform led a $100 million commitment to partner with Alchemy Renewable Energy on a newly-established company, Cardinal Renewables, to develop, acquire, finance and operate solar power generation projects throughout the United States – including a dozen operating assets and a pipeline of development projects.
Partnering with Carlyle’s best in class Renewable and Sustainable Energy team opens distinctive opportunities to drive forward the energy transition. Our combined deep market expertise and Carlyle’s long-standing relationships with corporations and utilities will be instrumental in enhancing project, and economic, value creation.Lacie Clark, CEO of Alchemy Renewable Energy
Jan 31, 2019
Solar Power World article by Billy Ludt Southern Sky Renewable Energy RI and the City of Warwick flipped the switch on the city’s second solar array. The array on West Shore Road […]
Jan 28, 2020
New Company to Develop, Finance, Acquire, and Operate Renewable Power Generation Projects in the U.S. “Washington, DC and Springfield, MO – Global investment firm The Carlyle Group (NASDAQ: CG) and […]
May 29, 2019
Atlanta, May 29, 2019 – Alchemy Renewable Energy (ARE), a high growth portfolio company of Monarch Private Capital that owns and operates renewable energy facilities, today announced the commercial operation […]