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.
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