Carey International Group (CIG) and SYMX Energy Announce Start of Construction of CIG's Utility-scale Solar Portfolio
ORLANDO, Fla., June 3, 2025 /PRNewswire/ -- Carey International Group ('CIG'), a diversified holding company focused on growing North American assets in the energy/renewables, commercial real estate, and financial services, increased its size of its energy-asset specific construction financial commitments to $870 million for its CIG energy platform company's projects.
With the start of construction, SYMX Energy Corp., a wholly owned subsidiary of SYMX Holdings Corporation, a global industry-leading EPC, is on track to begin delivering fields in 2026, providing affordable electricity to US customers. This commitment reinforces SYMX's ability to deliver infrastructure and energy-related projects.
'Our execution of these projects with the Carey International Group ('CIG') reflects SYMX's strategic focus on growing our U.S. renewable energy platform,' added Andrew Ramos, President and CEO of SYMX. 'We are extremely proud of our teams, whose expertise and dedication continue to drive SYMX's successful expansion across the United States in response to the consistently strong demand for renewable energy. In addition, our construction commitments are a significant milestone accomplishment for our pipeline of energy projects and our partnership with CIG Companies.'
Christopher Kane, CIG's Chief Investment Officer, stated, 'Today's announcement is a major step towards the realization of delivering cost-effective electricity to the ERCOT marketplace. Utility-scale solar is still the lowest levelized cost of production when compared to other forms of generation. It will continue to be an efficient way to supply our grids and power the megatrends of artificial intelligence, data center growth, and industrial reshoring in the United States. With the formal start of construction, we intend to deliver utility-scale solar assets starting in the summer of 2026.'
About Carey International Group (CIG)
Headquartered in Orlando, FL, Carey International Group (CIG) is a diversified holding company focused on growing North American assets in the energy/renewables, commercial real estate, and financial services sectors. Current portfolio companies include CIG Companies, CIG Renewables, CIG Capital, Magnifica, and Magnifica Air. Realized portfolio assets include franchise finance, direct lending, and capital markets intermediary services.
CIG's current pipeline of projects includes more than 3 GW of utility-scale solar projects, a US-based manufacturer of solar modules, and various hospitality and residential projects across North America. For more information, please visit www.careyig.com or www.cigcap.com
About SYMX
Established in 1999, SYMX, through its related fourteen subsidiaries, has evolved alongside its world-renowned Strategic Partners into a fully integrated turnkey resource on a global scale in engineering, development, financing, construction and management and operations of highly complex projects ranging from energy, infrastructure, healthcare and life sciences and renewable energy worldwide.
Our commitment is to continually empower our partners to make informed decisions based on the scope of each project. We help optimize the balance between cost and scope, resulting in efficient design and operational readiness that satisfies our client's objectives to provide high-quality developments and services.
SYMX provides innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Within SYMX, we focus on executing our value proposition: to collaborate and engineer solutions to maximize asset value for our customers. Our value proposition means that both our customers, our partners, and SYMX will benefit as we pursue technology differentiation, digital adoption, and capital efficiency that create value for our customers and all our stakeholders.
Contact MHMS-PR.com
[email protected]
View original content to download multimedia: https://www.prnewswire.com/news-releases/carey-international-group-cig-and-symx-energy-announce-start-of-construction-of-cigs-utility-scale-solar-portfolio-302472206.html
SOURCE MHMS Group LLC
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNN
20 minutes ago
- CNN
Why these actors and ‘SmartLess' podcast hosts want to help you pay less for cell service
The latest celebrity start-up trend is no longer tequila. It's telecom. Actors Sean Hayes, Will Arnett and Jason Bateman — who host the popular 'SmartLess' podcast — are launching a wireless service as an alternative to pricier unlimited data plans from major carriers like Verizon, T-Mobile or AT&T. The decision to start the company, called SmartLess Mobile, came from a simple realization: while industry giants generally push unlimited plans, most people don't actually use that much data. Even if they're glued to their phones. 'Most Americans spend almost 90% of their time under Wi-Fi. Their mobile device very seldom actually uses the actual wireless network,' said SmartLess CEO Paul McAleese, a telecom industry veteran who co-founded the company with the actors. Research published last year by the consultancy group OpenSignal found that most mobile customers spend between 77% and 88% of their on-screen time connected to a Wi-Fi network. SmartLess Mobile offers wireless plans starting at $15 per month for 5 gigabytes of high-speed data, going up to $30 monthly for 30 gigabytes. By contrast, starter unlimited plans from the major carriers range from around $35 to $65 per month. McAleese said he and Arnett started discussing the idea after the actor bought a new phone for his teenage son and was sold an unlimited plan that cost around $70 monthly. (Arnett previously served as a spokesperson for Canadian telecom giant Shaw Communications; McAleese is the company's former president.) 'And (Arnett) goes, 'Geez, it's awfully expensive,'' McAleese said in an interview with CNN. 'And I said, 'Your boy spends almost his entire life under Wi-Fi. He's at home, he's at school … he's never going to be on the network. Why would you buy all that?'' SmartLess Mobile joins a growing slate of celebrity-backed wireless carriers, including Consumer Cellular, with longtime spokesperson Ted Danson, and Ryan Reynolds' Mint Mobile, which was acquired by T-Mobile in 2023. These providers, known as mobile virtual network operators (or MVNOs), lease access to a major telecom provider's spectrum — SmartLess plans will run on T-Mobile's 5G network — and can often charge lower prices because they don't have to manage the physical infrastructure. The services have gained popularity as cell phone technology has advanced. Most phones now have digital SIM cards, making it easier for consumers to switch carriers without having to visit a retail store. And the proliferation of Wi-Fi infrastructure everywhere from subways to restaurants means many people have lesser data needs. If their partner network goes down, MVNOs do risk being the ones customers blame for losing missing service. And limited data plans aren't necessarily for everyone — ride-share drivers and delivery couriers likely use a lot more data than people who work from home or from an office with a Wi-Fi network. But the primary 'uphill battle for any MVNO is to stand out in the space,' said Jeffrey Moore, principal at wireless industry research firm Wave7, because the industry giants have much more name recognition. Major carriers also entice customers with deals on new phones, which they practically give away for free if consumers join their network. Smaller carriers 'have to stand out either in terms of offerings or in terms of marketing,' Moore said. That's where celebrity endorsements come in. SmartLess already has a significant built-in audience; the podcast ranks among the top 20 most popular shows on Apple Podcasts. And Arnett, Hayes and the SmartLess podcast have more than 2 million combined Instagram followers. 'Whether by luck or by design, they also have a brand name that has both 'smart' and 'less' in the name,' McAleese said, 'which, if you're going to be a challenger brand in this day and age, those are two pretty good head starts.' The team plans to start discussing SmartLess Mobile on the podcast in the coming weeks, he said. And the SmartLess hosts' involvement in the new carrier goes beyond typical celebrity endorsements, McAleese said. Hayes, Arnett and Bateman had already turned down the opportunity to lend their names to other types of products, and they've been involved in everything from financing to marketing the new company. 'They rely on the category for what is now one of their primary professional pursuits, which is the podcast, this is how people consume their product,' McAleese said. 'These guys are master storytellers, and they have the brand ethos of sort of an honest broker. I think it's just a perfect marriage.'
Fox News
26 minutes ago
- Fox News
Evening Edition: Long-Term Economic Impact Of Social Unrest
With violent protestors talking to the streets of Los Angeles, burning vehicles, damaging businesses and property, the economic impact begins to come into the forefront. President Trump activated the National Guard and has sent hundreds of Marines to establish order. The L.A. riots, reminiscent of those that took place five years ago in Minneapolis that caused a half a billion dollars in economic losses, could impact local businesses and the economy for years to come FOX's John Saucier speaks with Pierre Debbas, an attorney and real estate expert, and Managing Partner of Romer Debbas, LLP, who says unrest in major cities has a long, negative ripple effect on small businesses and real estate values. Click Here To Follow 'The FOX News Rundown: Evening Edition' Learn more about your ad choices. Visit
Geek Wire
26 minutes ago
- Geek Wire
AWS and national lab team up to deploy AI tools in pursuit of fusion energy
Sustainability: News about the rapidly growing climate tech sector and other areas of innovation to protect our planet. SEE MORE Lawrence Livermore National Laboratory's National Ignition Facility in Livermore, Calif. (LLNL Photo) Amazon Web Services is teaming up with Lawrence Livermore National Laboratory — home to the world's only facility to achieve fusion ignition — to develop artificial intelligence tools to advance the lab's efforts, the two announced today. AWS and LLNL's National Ignition Facility are working together to build an AI-driven troubleshooting and reliability system, and have already deployed generative AI capabilities into the fusion lab's operations. The focus is on using AI to produce real-time solutions to anomalies that arise in the research and addressing increasing operational demands. More than two years ago, NIF reported that it had produced more energy from a fusion reaction than went into it, an accomplishment known as ignition. Since then, the facility has hit that mark seven additional times, most recently in April when it nearly tripled the amount of energy produced in December 2022. Researchers internationally are trying to recreate the fusion reactions that power the Sun — developing 'star in a jar' technologies that will allow humanity to produce nearly limitless clean energy on Earth. That power is increasingly in demand as data centers continue expanding and other sectors of the economy are electrifying their operations. In the new partnership with the federal lab, AWS's AI could help solve the very energy consumption problems it is helping to create. The National Ignition Facility has hit ignition eight times in fusion experiments conducted at LLNL. (LLNL Chart) 'I'm excited to unleash the superpower that is AI on NIF operations,' said Kim Budil, director of LLNL, in a statement. 'By leveraging our extensive historical data through advanced AI techniques, we're solving today's problems faster and paving the way for predictive maintenance and even more efficient operations in the future.' Last week, Washington state companies Helion Energy, Zap Energy and Avalanche Energy participated in a Seattle-area summit to share their progress in working towards commercialized fusion. In the past they celebrated NIF's experiments as a validation that their ambitions are possible. No other facility anywhere has demonstrated fusion ignition, and NIF's objective is strictly research, as opposed to building reactors to put power on the grid. One of the interesting applications being pursued at NIF is unleashing AI on more than 98,000 archived problem logs stretching back 22 years. The documents are a trove of lessons learned, including symptoms, causes and the steps taken to fix the problems. A release from the California-based national lab said the partnership could 'establish a new standard for AI application in high-stakes scientific facilities and may influence operational approaches at other national laboratories.' David Appel, vice president of U.S. Federal Sales at AWS, called LLNL 'an innovation and scientific powerhouse, and we're extraordinarily proud of our partnership together.'
