Actualize Solar’s Renewable Energy Portfolio Reaches 1.5 GW in the Mid-Atlantic and Southeastern US

MCLEAN, Va.--(BUSINESS WIRE)--Dec 20, 2024--

Actualize Solar executed five new long-term power purchase agreements (PPAs) with a major US utility this year. “The signing of the new PPAs demonstrates our ability to meet the needs of our customers while advancing the goal for our project portfolio to be fully contracted,” said Bob White, the Chief Development Officer of Actualize Solar. “Last year, we signed three long-term PPAs for our utility-scale projects. We intend to keep our growth trajectory.”

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Actualize’s current 1.5 GW project portfolio consists of over two dozen solar projects across six Mid-Atlantic and Southeastern US states. “We have assembled a top-notch team with over 70 years of project development and project finance expertise to ensure our projects successfully reach their commercial operation dates,” said Gintaras Sadauskas, the CFO of Actualize Solar. “We look forward to rapidly expanding our utility-scale solar portfolio in the US.”

“Our team’s successful track record is hinged on a disciplined, programmatic approach to renewable energy project development and ensuring all projects secure long-term contracted revenues from credit-worthy offtakers,” said Vadim Ovchinnikov, the CEO of Actualize Solar. “With over $480 million of contracted revenues, we are excited to continue bringing high-quality solar projects to communities across the US and provide competitive solutions to utilities, local cooperatives, and corporate clients.”

“Our goal is to expand our portfolio to 2.5 GW by the end of 2026,” said Mr. Ovchinnikov. “The expected high growth rates of AI technology and data centers in the US will help ensure our projects will find their customers.”

About Actualize Solar

Actualize Solar, LLC is a US renewable energy project developer headquartered in McLean, Virginia. With significant power development experience, the Actualize Solar team has developed, financed, constructed, operated, purchased, and sold over 30 GW of power generation assets, including solar, battery storage, wind, gas, hydro, coal, fuel cells, geothermal, and biomass. See the company’s website at https://actualizesolar.com/

Utility-scale solar projects (Photo: Business Wire)

ATHENS, Greeece (AP) — A speedboat carrying migrants capsized Friday morning off the eastern Greek island of Rhodes, leaving eight dead, Greek authorities said.

The coast guard said the incident occurred while the speedboat was carrying out “dangerous maneuvers” to try and evade a patrol vessel, causing migrants to fall into the sea. Eighteen of the migrants were rescued.

Rescue workers on three coast guard vessels and a helicopter were working near the resort area of Afantou Beach in the northeast of the island. It was unclear whether other passengers were missing, authorities said.

Eight of the survivors have been hospitalized, local officials said, with one of them in critical condition, according to state-run television.

Rhodes, one of several large Greek islands located near the coast of Turkey, is on a busy illegal smuggling route in the eastern Mediterranean.

At the main port of the island, police and ambulance workers held up sheets of gray tarp as the recovered bodies were carried into an ambulance.

It was the second deadly incident involving migrants in the past week, as authorities in Athens brace for a spike in arrivals as a result of wars in the Middle East.

Seven migrants were killed and dozens are believed to be missing after a boat partially sank south of the island of Crete over the weekend – one of four rescue operations during which more than 200 migrants were rescued.

The search south of Crete around the tiny island of Gavdos was called off Wednesday.

The number of migrants traveling illegally to Greece is expected to top 60,000 this year, with Syrians making up the largest number, followed by Afghans, Egyptians, Eritreans and Palestinians, according to government data.

Follow AP’s global migration coverage at https://apnews.com/hub/migration

Coast guard officers cover the bodies after a speedboat carrying migrants has capsized, in the southeastern Aegean Sea island of Rhodes, Greece, Friday, Dec. 20, 2024. (Argyris Mantikos/Eurokinissi via AP)