Pike Solar Powers Up, Commences Commercial Operations In Colorado

Charlotte, NC /PRNewswire/ - Deriva Energy, a Charlotte-based independent renewable generation developer, owner, and operator, is pleased to announce today the commencement of commercial operation at Pike Solar in El Paso County, Colorado.

Pike Solar is the first solar plant to start commercial operation under the new Deriva banner. It will provide energy to Colorado Springs Utilities through a 17-year power purchase agreement.

"We are grateful for the support of the local community, state stakeholders, and our dedicated team for bringing this solar plant to completion," said Chris Fallon, President of Deriva Energy. "This is a critical step closer to achieving Colorado Springs Utilities' sustainable energy goals and look forward to powering homes and businesses with new, clean electricity."

At 175 megawatts of capacity, the plant will generate enough electricity annually to serve the energy needs of roughly 46,300 homes.

"Now the largest solar array on our system, Pike Solar represents a significant step toward our goal of an 80% reduction in carbon emissions by 2030," said Springs Utilities Chief Executive Officer Travas Deal. "While this is a major development, our work is just beginning. Pike Solar joins many other projects and initiatives in our Sustainable Energy Plan to provide our community with a cleaner energy future and a resilient and sustainable electric grid."

JUWI completed the development, engineering and construction of the project and will provide operation and maintenance services for Pike Solar; the project is located on 1,310 rural acres south of the city of Colorado Springs. The project employed approximately 350 workers at peak construction. Deriva Energy will own the plant and share operations and maintenance responsibilities with JUWI.

"The safe and on-time completion of Pike Solar results from strong collaboration among project participants, including the teams from Deriva Energy, Colorado Springs Utilities, El Paso County, City of Fountain, and all our reliable and hardworking subcontractors," said Michael Martin, CEO of JUWI Inc. "The JUWI team worked tirelessly to complete this project under complex logistical and weather-challenged events."

With the addition of Pike Solar, Deriva Energy will own and operate 248 MW in Colorado.

Deriva Energy
Deriva Energy is an established leader in clean energy, with 5,900 megawatts of operating and under construction wind, utility scale solar and storage assets across the U.S. Formerly known as Duke Energy Renewables, Deriva is a portfolio company of Brookfield, one of the world's largest owners and operators of renewable power and climate transition assets. Deriva is headquartered in Charlotte, North Carolina. For more information, visit here.

Colorado Springs Utilities
For generations, Colorado Springs Utilities has provided electricity, natural gas, water and wastewater services to the Pikes Peak region. As a community-owned utility, its customers enjoy competitive prices, exceptional hometown service, responsible environmental practices and a voice in how their utility operates. Learn more at csu.org.

JUWI
The JUWI Group has been one of the leading specialists of renewable energy for nearly 30 years and offers complete project development as well as other services related to the planning, construction, and operational management of renewable energy plants. The main business areas include projects with wind and solar energy as well as hybrid systems with storage for industrial applications.

JUWI employs more than 1,300 people worldwide. Outside of Germany, the company has subsidiaries in Italy, Greece, South Africa, the USA (Colorado-based HQ), Japan, Australia, India, the Philippines, Thailand, Vietnam and Singapore.

To date, JUWI has implemented more than 1,250 wind energy plants with a capacity of more than 3,000 megawatts at approximately 250 locations worldwide in the wind segment. In the solar segment, the company has executed on approximately 2,000 PV plants with a total capacity of nearly 3,850 megawatts. JUWI's operations management group services wind energy and photovoltaic plants with a capacity of more than 4,100 megawatts.