First solar deals for Onyx-Corvias JV

Blackstone’s Onyx Renewable Partners and Corvias have secured financing for solar installations on two US military bases.

Six months since Onyx Renewable Partners and Corvias Solutions formed their strategic alliance, the two partners announced on Thursday their first solar projects to be installed on two US military bases in Maryland – Aberdeen Proving Ground and George G. Meade.

RBC Capital Markets provided an unspecified amount of financing for the two solar installations that will serve over 1,000 homes once fully constructed. The solar power produced will account for up to one third of total energy consumption and will be interconnected to Baltimore Gas & Electric’s grid, the companies said in a statement.

“Implementing solar offerings at these and other bases will help the US military and other public partners to create more resilient and sustainable power solutions as well as energy cost savings and predictability,” the companies said, echoing the objectives previously announced when Onyx and Corvias decided to team up.

The two solar projects also support the Department of Defense Privatised Housing Solar Challenge, which is part of President Barack Obama’s Build America Initiative.

Onyx is a renewable energy development company Blackstone established in October 2014 with the management team of solar developer Solops. 

Corvias Solutions is one of three divisions comprising the Corvias Group, which is based in East Greenwich, Rhode Island, and works on behalf of the US military, colleges, universities and other public agencies for their housing needs. According to its website, Corvias Solutions helps public sector institutions meet their regulatory obligations and solve their environmental, energy and infrastructure challenges. The group’s two other divisions are Corvias Military Living and Corvias Campus Living.