New development JV targets 3GW of renewables in PJM region

November 10, 2022
Facebook
Twitter
LinkedIn
Reddit
Email
An operational solar project in Ohio. Image: United Renewable Energy.

US solar developer OYA Renewables and energy company Oil Well Shares have embarked upon a joint venture (JV) to develop and construct community and utility-scale solar and storage projects across the PJM region.

Named Chrysalis Energy, the JV aims to develop 3GW of renewables capacity across 1.5 million acres of land in Pennsylvania, Ohio and West Virginia. OYA Renewables said that the JV was the “first of its kind” in the US, with the initial phase of development expected to be completed by 2030.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“It would be difficult to overstate the impact that this joint venture will have on the economic prosperity of this region and the national transition to clean energy,” said Manish Nayar, chairman and founder of OYA Renewables. “The sheer magnitude of the land position is remarkable, likely the single largest private land inventory in PJM and comprising 1/1000th of the entire continental US acreage.”

Included in the scope of the JV is the joint ownership and operation of a portfolio of renewable assets across OWS’s current land inventory. The company said that the energy transition infrastructure development process across this inventory is expected to bring over US$3 billion in capital to the PJM region by 2030.

 “As a third-generation energy company committed to investing in the communities where we live and work, we are excited to partner with a premiere renewables leader like OYA in providing reliable, economic and sustainable energy solutions for local businesses and communities,” said Sid Sinha, CFO of OWS.

The PJM and Appalachian region has seen a lot of solar development due to its scale and the energy demand that accompanies dense population. A 750MW project is currently being developed in Ohio by EDF Renewables, set to be one of the largest in the country, and First Solar has committed to a US$270 million research and development facility in the state.

Read Next

October 31, 2025
US thin-film module manufacturer First Solar has unveiled plans to build a new 3.7GW manufacturing plant in the US in 2026.
October 31, 2025
Australia's solar and energy storage sectors delivered transformative performance during the third quarter of 2025, with grid-scale solar generation reaching 1,699MW average output while battery systems expanded capacity by 2,936MW since Q3 2024.
October 31, 2025
Acen Australia has committed to recycling around one million solar modules from its 400MW Stubbo solar PV power plant in New South Wales.
October 30, 2025
Global net zero by 2050 is now “impossible” and the world is on course for temperature rises of 2.6°C, according to energy market analyst Wood Mackenzie.
October 30, 2025
US microinverter producer Enphase Energy posted increased revenues, margin and income in Q3 2025, as it doubles down on its US manufacturing operations.
October 30, 2025
Nexamp has secured US$600 million in financing for distributed solar and energy storage projects in the US.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany