Agreements are among the lowest price utility-scale renewable power purchase agreements signed to-date in Michigan
Circle Power, a Michigan based renewable developer backed by Amber Infrastructure (‘Amber’) and Hunt Companies Inc. (‘Hunt'), have executed two power purchase agreements with Michigan’s Upper Peninsula Power Company (‘UPPCO’).
Circle Power are developing two adjacent projects with a total of eight wind turbines located in Houghton County, Michigan. The turbines will provide 40 megawatts in aggregate generation capacity that will be sold under the agreements. According to public data from the Michigan Public Service Commission, the agreements are among the lowest price utility-scale renewable power purchase agreements signed to-date in Michigan. The agreements are 12 years in length.
“We are pleased to reach this significant milestone,” said Jordan Roberts, Managing Partner at Circle Power. “UPPCO, as well as the Michigan Public Service Commission, were integral to the successful negotiation of these contracts, which will provide substantial value to UPPCO ratepayers.”
Circle Power, has been engaging with local residents and stakeholders to secure the land, permits, grid interconnection, and other requirements necessary for the wind turbines which are scheduled to be operational by the end of 2023.
Circle Power, Amber and Hunt have expanded their commitment to the Upper Peninsula of Michigan by developing additional wind and solar energy projects in the region.
For further information:
Amber Fund Management Limited
+44 (0)20 7939 0558
About Amber Infrastructure
Amber Infrastructure ('Amber') is an international infrastructure specialist, focused on investment origination, development, asset management and in Europe, fund management. Amber’s core business focuses on infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors that support the lives of people, homes and businesses internationally.
Amber is headquartered in London with offices in Europe, North America and Australia and employs over 130 infrastructure professionals. Amber has had a strategic partnership with the Hunt Group of Companies (Hunt) in the US since 2015.
Hunt is a family-owned holding company that invests in operating businesses in the real estate and infrastructure markets. Hunt develops, invests, manages and finances assets at all stages to derive and deliver value. Founded in 1947, Hunt builds its reputation on integrity and performance. With a focus on excellence in corporate governance, Hunt is committed to a culture of transparency for employees, clients, investors and the communities it serves. Hunt employs over 1,800 direct employees and its broader platform (including affiliates) employs over 6,000 additional employees across the United States and Europe. Learn more at www.huntcompanies.com.
About Circle Power
Circle Power is a Michigan-based renewable energy developer formed in late 2017. The Company is focused on the development of low cost, distributed solar, wind and battery projects. The company’s three partners have amassed a track record that includes the successful development of over 3,200 MWs of wind and solar projects throughout the United States. www.circlepowerco.com