March 1 (Renewables Now) – US coal producer Peabody (NYSE:BTU) has created a three way partnership with a few buyers with a purpose to develop greater than 3.3 GW of photo voltaic photovoltaic (PV) and 1.6 GW of battery storage capability over the subsequent 5 years.
The brand new renewables developer known as R3 Renewables LLC and is a three way partnership with Riverstone Credit score Companions and Summit Companions Credit score Advisors, it was introduced on Tuesday.
R3 will begin with the event of six initiatives on massive tracts of land on or close to earlier coal mining operations in Indiana and Illinois. In keeping with Peabody, the websites provide the potential for the event of the biggest photo voltaic and battery initiatives in each states.
The JV will likely be led by CEO John Jones, who has held senior roles at sector gamers resembling GE EFS, Lincoln Clear Vitality, now Ørsted North America Onshore, and Invenergy.