KSI In the News

Clean Energy Will Replace More than 600 tons of ghg emissions annually

Oneonta, NY, July 19, 2019
 

Corning Incorporated (NYSE: GLW) announced today, during a celebration event, its first solar array in New York State is officially online, marking Corning’s 12th renewable energy site worldwide.

The solar array located at the Corning Life Science (CLS) facility in Oneonta, New York is part of Corning’s commitment to being more environmentally friendly by investing in renewable energy.

“We are proud to continue investing in renewable energy and making our communities greener places to live. Solar energy not only creates value for our shareholders, it reflects our long-term commitment to reduce our carbon footprint and become a more energy-efficient company,” said Dr. David Morse, Corning’s executive vice president and chief technology officer. 

Corning has entered into a power purchase agreement with Kendall Sustainable Infrastructure, which will own the solar array. The electricity generated will go directly into the New York State Electric and Gas (NYSEG) grid and be distributed to the plant and local consumers.

Energy produced by the ground-mount solar array will help avoid more than 600 tons of greenhouse gas emissions annually, or the equivalent to the power consumption of approximately 67 homes for one year.  

The solar project also aligns with New York State Gov. Andrew Cuomo’s Reforming the Energy Vision (REV) initiative to have 70% of New York’s electricity come from renewable sources by 2030. This project is partially funded through the New York State Energy Research and Development Authority (NYSERDA) Value of Distributed Energy Resources.

“Under Governor Cuomo’s leadership, private-public partnerships are helping the state meet its nation-leading clean energy goals and are a critical part of New York becoming one of the fastest growing solar markets in the nation,” said Alicia Barton, president and CEO, NYSERDA. “We are excited to partner with Corning Incorporated on this project which demonstrates their commitment to environmental stewardship and reducing their carbon footprint.”

The Oneonta solar installation and purchase agreement demonstrates Corning’s continued commitment to clean the air and environmental stewardship. Other achievements and ventures include:

  • Corning produced the first emission control substrate that enabled the auto industry to meet standards set in the Clean Air Act in 1972. 
  • Corning Environmental Technologies is focused on manufacturing substrates and filters designed to trap soot, or particulate matter, from diesel or gasoline exhaust emissions in a variety of light-duty and heavy-duty applications. 
  • In 2006, Corning established its Global Energy Management program, which drives efficient energy use and has saved Corning more than $500 million in cumulative energy costs. 
  • In 2017, the Oneonta facility achieved the Environmental Protection Agency’s ENERGY STAR® Challenge for Industry after increasing its energy efficiency by 14.3% in three years. 
  • Corning has received the EPA’s ENERGY STAR® Partner of the Year award for the past six years, from 2014-2019.  

Latest Solar Project Further Demonstrates Company’s Dedication to Renewable Energy

Oneonta, NY, April 4, 2019

Corning Incorporated (NYSE: GLW) announced today it is building a solar array at its Corning Life Sciences (CLS) facility in Oneonta, and the company has entered into a solar–power purchase agreement to further support its commitment to clean energy.

“Corning is continuously working toward reducing its carbon footprint and environmental impact,” said Tom Capek, senior vice president and chief engineer. “Solar projects, like the one at our Oneonta plant, are another step toward using more renewable energy and preserving our environment. Corning is committed to pursuing renewable energy sources in order to help reduce energy costs while providing a greener power source for the community.”

The array will be Corning’s first solar project in New York state, and Corning’s 11th worldwide. The ground-mounted solar array will be constructed by Ontario, New York-based company GreenSpark Solar and is expected to be completed in summer 2019.

Corning has entered into the power purchase agreement with Kendall Sustainable Infrastructure, which will own the solar array. The electricity generated will go directly into the New York State Electric and Gas (NYSEG) grid and be distributed to consumers. The solar array will produce more clean energy for consumers, thereby reducing greenhouse gas emissions in the community.

“Corning has been a proud member of the Oneonta community for more than 50 years and has always strived to be responsible users of energy resources,” said Ben Williams, site energy manager with Corning’s Global Energy Management program. “We are excited to be helping ‘green’ NYSEG’s grid by increasing renewable energy production in Oneonta.”

The Oneonta solar installation and purchase agreement aligns with Corning’s continued commitment to clean the air and environmental stewardship. Other achievements and ventures include:

  • Corning produced the first emission control substrate that enabled the auto industry to meet standards set in the Clean Air Act in 1972.
  • Corning Environmental Technologies is focused on manufacturing substrates and filters designed to trap soot, or particulate matter, from diesel or gasoline exhaust emissions in a variety of light-duty and heavy-duty applications.
  • In 2006, Corning established its Global Energy Management  program, which drives efficient energy use and has saved Corning more than $500 million in cumulative energy costs.
  • In 2017, the Oneonta facility achieved the Environmental Protection Agency’s ENERGY STAR® Challenge for Industry after increasing its energy efficiency by 14.3 percent in three years.
  • Corning has received the EPA’s ENERGY STAR® Partner of the Year award for the past five years (2014-2018).

The solar project also aligns with New York State Gov. Andrew Cuomo’s Renewing the Energy Vision (REV) initiative to have 70 percent of New York’s electricity come from renewable sources by 2030. This project is partially funded through the New York State Energy Research and Development Authority (NYSERDA) Value of Distributed Energy Resources.

Listen to co-founder and managing director john chaimanis discuss his perspective on the uS solar market.

Cambridge, MA, March 26, 2019

(https://solarmaverick.podbean.com/e/smp-21-an-investors-perspective-on-the-us-solar-market/)

Solar Maverick’s Benjoy Thanjan and Kendall Sustainable Infrastructure’s John Chaimanis discusses current trends in the rapidly evolving industries of solar power and renewable finance. In addition to sharing KSI’s focus on people and relationships, John covers a variety of topics including YieldCos, Community Solar, forward pricing perspectives, and storage. 

Local Non-Profit Goes Solar 

Parma, NY, December 15, 2018

Rochester, NY – Heritage Christian Services (HCS), a non-profit offering supports and services for people with intellectual and developmental disabilities in Upstate NY, is going green with a 2.69 MW solar array in Parma, NY. This array will allow Heritage Christian to have a more responsible energy footprint and reinvest the savings back into its dedicated workforce. The solar project was developed and installed by Ontario, NY based GreenSpark Solar, a local B Corp serving the Greater Rochester Area, the Finger Lakes region, and Western NY for over 17 years.

“Our workforce not only does a tremendous job supporting people, but they also care about our environment,” said Drew Bielemeier, Senior Vice President of Operations at HCS. “The solar idea came from our staff and we are excited to partner with GreenSpark to achieve a more responsible carbon footprint while reducing our costs.”

The 2.69 MW solar project serves dual purposes with two thirds of the array dedicated to community distributed generation, bringing solar energy to over 300 Rochester area households through a Community Solar Array (CSA). HCS is receiving over 1MW of solar power from the array, which produces enough energy to cover over 60% of Heritage Christian Services’ electrical needs in the Rochester area.

The solar array began producing energy in December of 2018. The project is owned by Kendall Sustainable Infrastructure, with HCS as the purchaser of the solar energy through a Power Purchase Agreement (PPA). With the PPA model a third-party financier is able to utilize the tax incentives, while HCS saves millions throughout the life of the array.

Bielemeier added the agency plans to continue partnering with GreenSpark Solar in 2019 to address more of its electric needs in the Rochester and Buffalo regions. Over the next 25 years, HCS looks to save approximately $2 million in energy costs.

“If more organizations took advantage of the financial benefits of solar energy, the entire economy of the Greater Rochester area would improve,” said Kevin Schulte, CEO of GreenSpark Solar. “We are talking about a non-profit, with budget constraints, taking positive steps to invest in their future. Heritage Christian Services has it right – they are showing its vast community how solar energy adoption positively impacts the daily lives of their employees, the people they serve, and their circles of support.”

Also benefiting from the solar project are Monroe County and the Town of Parma. As well, Hilton and Spencerport Central School Districts have access to the array for educational resources, including access to monitoring information and class field trips.

GreenSpark Solar applied for and received a grant on behalf of HCS through the NY-Sun Initiative, which is administered by the New York State Energy Research and Development Authority (NYSERDA) and is part of Governor Cuomo’s commitment to combating climate change and lowering energy costs for all New Yorkers. New York’s Clean Energy Standard recently increased from 50 to 70 percent renewable electricity by 2030, making it one of the most aggressive clean energy goals in the country. This commitment expands the clean energy economy in New York, creating local jobs. Outside of GreenSpark employees, this project employed over 70 workers from Rochester area companies.

 

Mount Snow Resort Announces New Solar Projects with Kendall Sustainable Infrastructure and Green Lantern Development

 For immediate release

Mount Snow, VT, February 15, 2018

Mount Snow, Kendall Sustainable Infrastructure, LLC (“KSI”) and Green Lantern Development, LLC are pleased to announce the commencement of operation of two new solar power projects in Southern Vermont.

The two projects have a combined capacity of 1.5 megawatts of power, and will create power that will offset Mount Snow’s electricity usage and will reduce its energy bills for the next 20 years or more. Together, the two systems are expected to generate 1.8 million kilowatt hours in their first year of operation and 34 million kilowatt hours over the next 20 years.

“Mount Snow is pleased to begin this important relationship in the midst of another great winter season,” said Erik Barnes, VP and general manager of Mount Snow. “While the energy cost savings from these projects are substantial and important, we also firmly believe that the growth of solar power in Vermont has been positive, not only for Mount Snow and our guests, but for the entire state as well, as we all work toward a future powered by clean energy.”

“We are pleased to enter a long-term partnership with Mount Snow. It is a longstanding iconic Vermont resort that will benefit for many years to come from the power created by our solar projects,” said KSI managing director John Chaimanis.

“Our projects produce many positive impacts, even beyond the power they produce,” said Ken Lehman, a managing director at KSI. “Those additional impacts include local job hours and productive use of land for local landowners. It is a win-win for all involved.”

Vermont solar developer Green Lantern Development, LLC served as the developer and general contractor for both projects. “These are another two accomplishments in our series of solar projects. Vermont has become a hub for solar development and now serves as a model for other states to incorporate solar into their energy production mix,” said Luke Shullenberger, managing partner at Green Lantern Capital.

About Mount Snow

Mount Snow is a premier four-season resort located in the Green Mountains of southern Vermont, featuring four mountain faces of downhill skiing and snowboarding – including the east’s number one Terrain Park, Carinthia – slopeside lodging, golf at the acclaimed Mount Snow Golf Club, as well as flexible wedding and conference facilities. Other activities include snow tubing, ski lessons, snowboard lessons, downhill mountain biking, and a full schedule of festivals and events. Mount Snow is a member of the Peak Resorts family. To learn more about Mount Snow, visit mountsnow.com.

About Kendall Sustainable Infrastructure, LLC

Kendall Sustainable Infrastructure, LLC (“KSI”) is a private real asset firm focused on sustainable infrastructure projects. KSI’s projects serve municipalities, universities, schools, hospitals, businesses and community members. KSI is a leader in sustainable project finance. We differentiate ourselves by participating in the often-underserved small to mid-markets. Our approach emphasizes attractive financial transactions for all parties and environmental sustainability. We are thought leaders, fundamental investors, and we aim to positively impact the world with every dollar we invest. KSI is based in Cambridge, MA and is affiliated with Kendall Investments, LLC.

About Green Lantern Development, LLC  

Green Lantern is a leading developer of clean, distributed energy solutions and mixed-use real estate. Our services include strategic planning and consulting, project management and turn-key development solutions.

Kendall Sustainable Infrastructure Announces Completion of $50 million in Distributed Generation Solar 

CAMBRIDGE, January 31, 2018

Kendall Sustainable Infrastructure, LLC (“KSI”) today announced that it has reached the milestone of completing over $50 million of newly built distributed solar projects.  The portfolio consists of 37 projects with a combined capacity of approximately 20 megawatts of power, or enough power for over 3,000 homes.

“We applaud our teammates, partners and stakeholders who have put their hard work into realizing this milestone with us,” said Managing Director John Chaimanis.  “The distributed segment of the market is expected to grow nationally by around 11,000MW over the next 5 years, and we are well positioned to grow with it.” Chaimanis further added,  “Each of our projects involves local developers, engineers, construction workers and other professionals, which means not only clean energy, but also jobs for local communities.”

The announcement comes at a time when larger competitors have abandoned or ignored the smaller-sized “distributed generation” market, opting into larger utility-scale projects.

“Distributed generation has a vital role to play.  It is generated close to where it is consumed, readily interconnected to the grid and dependable,” said Ken Lehman, Managing Director.  “It also has local impact.  Our projects help individuals, communities, businesses, and the environment, so we see it as $50 million worth of positive impact.  Our off-takers benefit from lower power prices.  Local landowners benefit by putting available space to good use.  And we all benefit from the production of clean power.”

The Kendall Sustainable Infrastructure portfolio serves utilities, municipalities, universities, school systems, hospitals and businesses, and includes community solar projects that serve individual households.

About Kendall Sustainable Infrastructure, LLC

Kendall Sustainable Infrastructure (KSI) is an innovative asset management firm that creates value though investments in energy, water, and other sustainable real assets.  We are leaders in sustainable project finance.  We positively impact the environment, society and the economy locally where we own our assets.  We differentiate ourselves by participating in the often-underserved small to mid-markets.  Our approach emphasizes attractive financial transactions for all parties and attention to relationships.  We are thought leaders, fundamental investors, and we aim to positively impact the world with every dollar we invest.  KSI is nationally focused, based in Cambridge, MA and is affiliated with Kendall Investments, LLC.

Kendall Sustainable Infrastructure Cuts Ribbon on Solar Project Serving City of Montpelier, VT

MONTPELIER, August 1, 2017

Officials from the City of Montpelier met with Kendall Sustainable Infrastructure (KSI), and its partners Novus Energy Development and Green Lantern for the ribbon-cutting ceremony of a solar project in Montpelier today.  The project is one of a portfolio of similar KSI projects in Vermont.  The project creates power that will offset the City of Montpelier’s energy usage and reduce its energy bills.  The system is just under 700 kWDC, which is expected to generate approximately 800,000 kilowatt hours of clean electricity during its first year in service.  The City of Montpelier has estimated that it will save between $40,000 and $50,000 a year in energy costs through the program.

KSI Managing Directors Ken Lehman and John Chaimanis were on hand for the ceremony.  “Providing long-term savings with solar generated power to the City of Montpelier through Vermont’s net metering program is directly in line with our mission: building and owning sustainable infrastructure facilities that promote the transition from legacy high carbon and unsustainable facilities,” said John Chaimanis.   “This solar project is the culmination of a coordinated effort,” remarked Ken Lehman.  “It involved city officials, local developers, engineers, construction crews and many others who worked together make it a reality.  We are proud to help the City of Montpelier reach their Net Zero goals.”

The Montpelier solar project is part of the Montpelier Energy Advisory Committee’s (MEAC) “Net Zero Montpelier” program to move toward clean energy sources. “The Montpelier Energy Advisory Committee is very excited to see the results of many years of hard work to bring these solar arrays online for the City,” said Kate Stephenson, MEAC Chair. Along with Stephenson, City Manager Bill Fraser, array owners KSI, and members of MEAC met at the site to highlight the achievement.

Lou and Alex Bravakis of Novus Energy Development agreed that the project represented “a major accomplishment for the City of Montpelier and for the Vermont renewable community.”  Luke Shullenberger of Green Lantern noted that the Montpelier project was “the product of an active community of industry professionals who are helping Vermont transition to local, renewable energy sources.”

About Kendall Sustainable Infrastructure:  Kendall Sustainable Infrastructure, LLC (“KSI”) is a private real asset firm focused on sustainable infrastructure projects.  KSI’s projects serve municipalities, universities, schools, hospitals, businesses and community members.  KSI is based in Cambridge, MA.

ImpactAssets Releases Annual IA 50 Impact Investment Fund Showcase 

BETHESDA, October 21, 2015

ImpactAssets has released its 2015 impact investing showcase, the ImpactAssets 50 (IA 50), a free online resource for investors and financial advisors. The fifth annual guide features fund managers representing private debt and equity investments that deliver social and environmental impact as well as financial returns.

Fund managers included in the IA 50 2015 manage an estimated $13.3 billion in assets devoted to creating measurable, positive impact.

“As impact investing continues to move into the mainstream, the IA 50 list has become the ‘go to source’ for new impact investors seeking a curated overview of impact funds,” said Jed Emerson, Chief Impact Strategist of Impact Assets. “It’s exciting to see a growing number of investors creating change and making impact with their resources.”

The IA 50 is the only free, public, searchable database of outstanding impact investing fund managers. This year’s showcase, which includes funds based in the United States, Africa, Europe and Latin America, highlights the increasingly diverse opportunities for investors to help create social value across the globe. The featured funds focus on issue areas including: health and wellness, microfinance, small business development, sustainable agriculture, and water and sanitation.

The IA 50 Selection Committee is chaired by Jed Emerson and includes: Karl “Charly” Kleissner, Co Founder of Toniic and KL Felicitas Foundation; Kathy Leonard, Senior Vice President – Investments and Senior Portfolio Manager for UBS; Liesel Pritzker Simmons and Ian Simmons, Co-Founders of Blue Haven Initiative; and Matthew Weatherley-White, Managing Director of The CAPROCK Group.

“The IA 50 provides an entry point for investors and advisors seeking fund managers with established track records across a range of impact investment criteria,” said Kathy Leonard, Senior Vice President – Investments and Senior Portfolio Manager for UBS. “Investors who have been watching from the sidelines and waiting for the field to mature will find no shortage of opportunities.”

ImpactAssets produces the IA 50, and has released 15 impact investing issue briefs to help both novice and experienced investors better understand the field and vet the opportunities that may best serve their goals.

“Every year we see the quality of applications increase, and a more nuanced understanding of the risk, return, and impact profiles of each fund manager articulated in their profiles,” said Amy Bennett, ImpactAssets’ Director of Marketing. “The commitment to evaluation and metrics to support each fund’s investment thesis has also grown in the IA 50 2015.”

The IA 50 is not an index or investable platform and does not constitute an offering or recommend specific products. It is not a replacement for due diligence. In order to be considered for the IA 50 2015, fund managers needed to have at least $10 million in assets under management, more than 3 years of experience as a firm with impact investing and documented social and/or environmental impact. Additional details on the selection process are here.

About ImpactAssets: ImpactAssets is a nonprofit financial services firm that increases the flow of capital into investments that deliver financial, social, and environmental returns. ImpactAssets’ donor advised fund (The Giving Fund), impact investment notes, and field building initiatives enable philanthropists, other asset owners, and their wealth advisors to advance social or environmental change through investment.

Related link: http://www.csrwire.com/press_releases/38407-ImpactAssets-Releases-Annual-IA-50-Impact-Investment-Fund-Showcase

http://www.impactassets.org/ia50_new/fund.php?id=a01E000000ZpTssIAF

KYOCERA, SunCommon and Kendall Sustainable Infrastructure Introduce Innovative Community Solar Array Program in Vermont

MONTPELIER, September 15, 2015

Kyocera Solar, Inc. announced today a partnership for an innovative Community Solar Array (CSA) Program in Vermont that offers a cost-effective way to participate in solar. Approximately 50 projects averaging 200kW each will enable consumers to virtually purchase about 13 megawatts of solar power without installing individual rooftop systems.

The CSA Program is a group effort coordinated by Kendall Sustainable Infrastructure (KSI), an impact investment firm and principal sponsor; Kyocera, a leading solar manufacturer providing solar panels and additional capital; and SunCommon, Vermont’s largest residential solar company heading project development, EPC and ongoing support.

Under the new CSA Program, landowners within an electrical service territory can arrange to dedicate a portion of their property to generating clean energy — a new “cash crop” helping farmers and Vermont landowners stay on their land. Each acre of solar panels generates enough electricity to power about 30 homes.

Participants enroll to virtually purchase power generated by solar arrays within their service territories. Solar power is fed into the grid, and participants purchase an amount of grid power equal to that generated by the arrays. The partnership expects to construct 50 CSAs, with nearly a dozen online or expected to be operational by year-end and the remainder in 2016.

“This Community Solar Array Program offers a tremendous opportunity for Vermonters to benefit from solar energy, even if their rooftops don’t provide ideal conditions,” said Hitoshi Atari, President, Kyocera Solar, Inc. “With our partners, we’re able to implement best practices, including integration of residential solar, flexible participation terms and deep community engagement.”

“With the help of Vermont’s supportive solar policies, we can offer Community Solar with no up-front purchase cost,” said SunCommon co-president Duane Peterson. “CSA participants simply sign up for the program for a monthly payment that’s actually less than their former power bill. It turns out that doing the right thing while saving money is a popular offering.”

“This pioneering program combines mature aspects of the power and solar industries with innovation, and is the right opportunity to put our impact investors’ capital to work building clean energy,” said John Chaimanis, Managing Director of Kendall Sustainable Infrastructure. “SunCommon has put together an excellent program in Vermont and is a detail oriented community partner; combined with world-class solar power equipment and sophisticated financing, our capital is making a direct impact both for Vermont ratepayers and the global climate.”

About the Program Participants

Kyocera Corporation of Kyoto, Japan, recorded consolidated sales of $12.7 billion in the fiscal year ended March 31, 2015. The company has a 40-year tradition of innovation in solar energy research, development and manufacturing, with a U.S. customer base served by Kyocera Solar, Inc. of Scottsdale, AZ.

SunCommon is a Vermont Benefit Corporation founded on the belief that everyone deserves a healthy environment and safer world – and that clean energy is where it starts. Now the state’s largest residential solar business, SunCommon is a Certified BCorp committed to the triple bottom line of people, planet and profit.

Kendall Sustainable Infrastructure, LLC (KSI) is an investment firm affiliated with Kendall Investments focused on building, financing and owning sustainable infrastructure projects and renewable energy assets. The firm works closely with investors, developers, product suppliers and other parties to build world-class renewable energy facilities that have positive, long-term financial, social and environmental impacts.

Related link: http://www.businesswire.com/news/home/20150915005844/en/KYOCERA-SunCommon-Kendall-Sustainable-Infrastructure-Introduce-Innovative