Proteus Power partners with Pelion Green Future to develop over 3 GWs of renewables and energy storage projects in the United States and Canada

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HOUSTON, July 26, 2022 /PRNewswire/ -- Proteus Power, a recently formed renewable energy project development company, has begun its North American business operations with the establishment of its US headquarters in The Woodlands, Texas. Led by industry veterans and financially backed by global clean energy investor, Pelion Green Future (https://www.peliongreenfuture.com/), Proteus Power has a target to develop and construct over 3 GW of solar, wind and battery energy storage projects in North America. Once operational, Proteus' projects will be capable of producing enough clean energy to cover the annual consumption needs of over 1.31 million homes and will prevent the release of 2.27 million tons of CO2 per year, equivalent to removing 1.63 million cars from the road.

Proteus is currently evaluating over 30 renewable projects in its initial target areas of Texas, Arizona, Nevada, Utah, Colorado, New Mexico and Alberta, Canada. Proteus has started the development of 3 solar projects in Alberta Canada with a total capacity of 234 MWs collocated with 97 MWs of battery storage.  

The Proteus strategy hinges on developing exceptional assets that will allow the company and its partners to invest in bankable renewable energy projects that are strategically placed to secure long-term power purchase agreements (PPAs) with corporate or industrial purchasers. Proteus manages the entire project value chain, providing quality projects to our co-investors, competitive PPA's to our off-takers, and long-term and predictable financial returns to the landowners we partner with to develop projects.

Our management team of highly experienced professionals led by Mike Lambros (CEO), Randy Etheridge (COO) and Dan Phillips (Chief Development Officer) has over 70 years of cumulative experience in project development and finance, and over $7.1 billion worth of transactional experience. The team uses its unique and complimentary skill sets along the entire value chain of solar, wind and battery projects from the development and design to the financing, construction and operation of the assets, in order to deliver optimal results to its stakeholders.

"We have assembled a tremendous team with an invaluable network and expertise and are very excited to partner with Pelion Green Future to deliver an excellent portfolio of renewable energy projects", said Mike Lambros the Founder and CEO of Proteus Power.

For further information on Proteus Power, please refer to our website www.proteus-power.com 

SOURCE Proteus Power