Invenergy, Lafayette Square create community solar JV targeting 3 GW

The Southern Oak Solar Energy Center in Georgia. Source: Invenergy

January 12 (Renewables Now) - Chicago-based renewables developer and operator Invenergy and impact investment platform Lafayette Square today announced the launch of a community solar joint venture that plans to develop 3 GW of renewable energy capacity by 2030.

The new platform is called Reactivate and its goal will be to finance, acquire, develop and operate solar projects that mainly serve low-to-moderate income (LMI) communities and areas disproportionately affected by the clean energy transition, the announcement says.

More specifically, Reactivate will focus on community solar projects, small-scale utility solar projects and next-generation projects, including energy storage, building electrification and electric vehicle (EV) charging infrastructure.

By 2030, in addition to its capacity addition plans, the new platform expects to save USD 50 million (EUR 44m) in energy costs for LMI households, sign 100 contracts with minority or women-owned contractors and facilitate workforce training for 2,500 underserved workers, the statement reads.

(USD 1.0 = EUR 0.875)

More stories to explore