New York, NY [August 11, 2021] – Madison Energy investments (MEI) is proud to dedicate $50 million to a financing joint venture agreement with Clean Future Partners, a joint venture formed by eDGe Renewable Partners and Advanced Energy Efficiencies, to develop solar energy projects for commercial, industrial and government customers throughout the state of Connecticut. The announcement follows a decision by the Connecticut Public Utilities Regulatory Authority to establish a new solar energy incentive program for commercial, industrial and municipal customers in the state.
Founded in 2019, Madison Energy Investments is a platform that finances, owns and operates distributed generation assets serving commercial, industrial and government customers throughout the United States. The firm has offices in Northern Virginia, New York City and Birmingham, Alabama.
Clean Future Partners is a joint venture clean energy partnership between Advanced Energy Efficiencies of Woodbridge, Connecticut, and eDGe Renewable Partners of Toronto, Canada.
The solar project agreement between MEI and Clean Future Partners will finance the construction of solar energy projects, delivering significant energy savings to customers and accelerating Connecticut’s commitment to achieve nearly 50% of all power from renewable sources by 2030.
MEI’s Managing Partner, Richard Walsh, expressed enthusiasm for investment in the Connecticut solar marketplace. “We are excited to work with the experienced and talented Clean Future Partners team. They have a demonstrated capability in successfully designing and installing clean solar projects throughout Connecticut and elsewhere. We see a strong long-term financing partnership for Connecticut.”
Advanced Energy Efficiencies is a growing clean energy technology company that has completed numerous solar projects in Connecticut, Massachusetts and New Jersey. The firm also works with fuel cell, combined heat & power (CHP), battery storage, energy efficiency and EV fleet infrastructure technologies.
Managing Partners Gary Hale and Adam Burkitt stated: “We are proud to team up with eDGe Renewable Partners to develop solar projects using highly skilled Connecticut workers. We know the demand for clean energy is growing rapidly and having a respected firm like Madison Energy Investments behind us will empower us to grow and serve the Connecticut commercial, industrial and municipal energy sectors.”
eDGe Renewable Partners arranged the MEI investment for the venture. eDGe has worked with investors and developers in thirteen nations and is supporting the development of renewable energy projects valued at more than $1 billion.
Bahaa Samy said: “This is a great day for the future of solar energy in Connecticut. MEI’s financial commitment is a vote of confidence for Clean Future Partners as we build exciting new projects for the state. It will create a better environment for Connecticut’s citizens while creating many job opportunities for Connecticut workers. We have already lined up some terrific projects and will work towards establishing a strong portfolio.”