OYA Renewables and Oil Well Shares (OWS) have formed Chrysalis Energy, a joint venture to develop and construct community- and utility-scale solar, wind and energy storage infrastructure projects across the PJM region.
PJM is part of the Eastern Interconnection grid operating an electric transmission system serving all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia. The region is considered highly attractive for renewable-energy development primarily due to the scale of the market for clean energy, which comes as a result of high community density and a strong industrial base.
OYA and OWS will develop, construct, jointly own and operate an extensive portfolio of renewable-energy assets across OWS's current land inventory. The energy transition infrastructural development is projected to result in more than $3 billion of capital being d