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UGI and Global Common Energy Announce Third RNG Project in Upstate New York
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Cayuga RNG, a joint venture of UGI Energy Services and Global Common Energy, plans to develop its third renewable natural gas project at El-Vi Farms in upstate New York. This project follows the Spruce Haven and Allen Farms projects and represents nearly $50 million in investments within the renewable energy sector. Once operational in early 2023, the facility is anticipated to generate 55 million cubic feet of RNG annually for local pipelines. UGIES’ subsidiary, GHI Energy, will handle marketing for Cayuga RNG.
Positive
Cayuga RNG's projects represent nearly $50 million in investment in renewable energy.
The El-Vi Farms project is expected to produce 55 million cubic feet of RNG annually.
Negative
None.
WYOMISSING, Pa.--(BUSINESS WIRE)--
Cayuga RNG has entered into an agreement to develop its third project to produce renewable natural gas (“RNG”) in upstate New York. This is in addition to the previously announced Spruce Haven and Allen Farms projects. Cayuga RNG is a joint venture of UGI Energy Services, LLC (“UGIES”), a subsidiary of UGI Corporation (NYSE: UGI), and Global Common Energy, LLC (“GCE”).
Cayuga RNG’s third project will be constructed at El-Vi Farms, which is located on the border of Wayne and Ontario counties in upstate New York. The project will include the construction of a manure digester and gas upgrading equipment. Once completed in the first half of calendar year 2023, the project is expected to produce 55 million cubic feet of RNG annually that will be delivered to a local natural gas pipeline serving the regional distribution system. UGIES’ subsidiary, GHI Energy, will be the exclusive marketer for Cayuga RNG.
In total, the Spruce Haven, Allen Farms, and El-Vi Farms projects represent nearly $50 million of investment in renewable energy projects for Cayuga RNG. Cayuga RNG is actively pursuing several other projects in the region.
Robert F. Beard, Executive Vice President, Natural Gas said, “This is another great collaborative opportunity to expand our RNG business in the Finger Lakes region of New York. We are pleased with our progress in positioning UGI as a leader in meeting the environmental and social needs of our customers and our communities, and look forward to further expanding our portfolio of renewable offerings.”
About UGI Corporation UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, natural gas utilities in West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the Mid-Atlantic region of the United States and California and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
About GCE
GCE designs, develops, owns and operates various energy projects, including utility scale power plants, renewable fuels projects, microgrids, and on-site generation projects. GCE establishes Strategic Energy Partnerships with our clients to design and implement energy projects that meet their business objectives. GCE has a broad range of experience in all aspects of energy project design, development and financing. GCE has performed innovative feasibility studies and project design; negotiated project agreements needed to enable financing, including complex power purchase agreements (PPAs); engineering, procurement, and construction (EPC) contracts; fuel supply agreements; and secured complex environmental permits in challenging regulatory environments. GCE also has extensive experience developing financial models and securing project financing.
About El-Vi Farms El-Vi Farms is a family owned farm originally founded in 1948 by Elmer and Viola Peck and has been located in Newark, NY since 1953. Now, as a multi-family farm, El-Vi Farms is jointly owned and operated by the Peck, Ruffalo, Andrew, and Skellie families. The farm operates with approximately 2,200 cows on 3,300 acres of land. El-Vi Farms takes pride in caring for our people, animals, and land in a sustainable way.
What is Cayuga RNG's new project involving UGI Corporation?
Cayuga RNG's new project involves developing a renewable natural gas facility at El-Vi Farms in New York, expected to generate 55 million cubic feet of RNG annually.
How much investment is UGI Corporation making in renewable energy projects?
UGI Corporation is investing nearly $50 million across multiple renewable energy projects, including the new Cayuga RNG facility.
When will the El-Vi Farms RNG project be completed?
The El-Vi Farms RNG project is expected to be completed in the first half of calendar year 2023.
Who will market the renewable natural gas produced by Cayuga RNG?
GHI Energy, a subsidiary of UGI Energy Services, will be the exclusive marketer for the renewable natural gas produced by Cayuga RNG.
