Competitive Power Ventures Holds Ribbon Cutting Ceremony for Maryland’s Largest Solar Project

GARRETT COUNTY, MD - Competitive Power Ventures (CPV) and its strategic investment partner Harrison Street Asset Management (HSAM) celebrated the official ribbon cutting of the CPV Backbone Solar project, marking a major milestone in the company's continued investment in reliable, domestic energy infrastructure, and economic development.

CPV Backbone Solar is the largest utility-scale solar project in Maryland and is situated on a former coal mining site. The 160-megawatt (MW) solar project adds new generation to the grid while supporting the state's clean energy target of 50-percent renewable generation by 2030.

The ceremony brought together local elected officials and community leaders to commemorate the completion of the solar facility and recognize the workers and organizations that helped bring the project to life.

CPV Backbone Solar will help meet the growing regional energy demand while supporting local tax revenues. During construction, the project supported hundreds of jobs and created opportunities for local contractors, suppliers, and skilled trades workers.

"Today represents more than the completion of an energy project. It represents investment in this community, in domestic energy production, and in our shared future," said Sherman Knight, CEO of CPV. "At a time when there is a need and call for affordable energy solutions, CPV Backbone Solar is able to provide clean, low-cost power to the region."

"We're demonstrating how former coal mining land can be repurposed into a valuable new source of generation for Maryland," said Mike Resca, EVP of CPV Renewable Power. "This project was made possible through key community and industry partners. By leveraging innovative engineering solutions and building strong strategic partnerships, even the most complex development challenges can be effectively overcome."

"CPV Backbone Solar demonstrates how infrastructure investments can generate meaningful economic and community benefits," said Carolyn Arida, Partner - Infrastructure at Harrison Street Asset Management. "The project reflects growing demand for renewable energy, while transforming a former coal site into a long-term asset for local communities and the broader power grid. It also reinforces our strong partnership with CPV and our shared commitment to expanding renewable generation infrastructure."

The project reflects CPV's long-standing commitment to working collaboratively with local stakeholders throughout the development and construction process. From early outreach efforts through construction completion, CPV engaged with community leaders, residents, and local organizations to ensure the project was developed responsibly and transparently.

"Projects like CPV Backbone Solar help strengthen local economies by creating jobs, generating new tax revenue, and supporting long-term investment in our region," said Board Chairman of Garrett County, Paul Edwards. "We appreciate CPV's continued partnership and commitment to being an active community partner throughout this process."

A planned second phase is currently under construction and is projected to expand the facility's total installed capacity to 175 MW.

About CPV

CPV Group LP, a partnership majority owned by OPC Energy Ltd., has 25 years of unprecedented success in the development and operation of highly efficient and low emitting electric generation and renewable projects in the United States. CPV is focused on applying its development, financial and project management expertise to advance the next generation of technologies. After bringing on 6.8 GW of natural gas, wind and solar generation since 2010 and with a current pipeline of over 10 GW of renewable and dispatchable generation projects, including utility-scale carbon capture, CPV is well positioned to help drive the nation's decarbonization goals forward.

About OPC Energy

OPC Energy Ltd. (OPCE:Tel Aviv) is an energy company leading the Energy Transition revolution in Israel and the United States and provides electricity in an efficient, reliable and environmentally friendly manner while combining solar energy, wind and natural gas with high efficiency. In Israel, OPC is the first and leading private electricity producer, offering its customers an integrated energy solution that includes the supply of all energy needs through the company's production sites and in the customer's yard using natural gas and solar energy. In the U.S., the company operates through the CPV Group, which supplies electricity using efficient natural gas and wind energy, and also builds and develops Powerhouse using natural gas, natural gas with reduced emissions, as well as solar and wind energy. For more information: please visit www.opc-energy.com/en.

About Harrison Street Asset Management

Harrison Street Asset Management is a leading global alternative investment management firm with over $108 billion in assets under management through highly differentiated assets across real estate, infrastructure, and credit strategies. Headquartered in Chicago, Toronto and London with over 600 employees in offices across North America, Europe, Asia and the Middle East, the firm offers innovative solutions across a variety of closed-end, open-end and specialized vehicles on behalf of 1,200+ institutional and over 300+ Registered Investment Advisors.¹

¹ HSAM data and descriptions of HSAM's business are generally comprised of the aggregated data and business activities of investment advisors that are owned in whole or in part by HSAM. Assets under management ("AUM") reflects the AUM for the investment advisory and asset management clients of such investment advisors and is inclusive of the regulatory AUM of such investment advisors that is reported in their respective Form ADVs.

Media Contacts

Sam Loftus
Director, Corporate Communications
Competitive Power Ventures
(617) 347-8094
[email protected]

Doug Allen/Ellie Johnson
Dukas Linden Public Relations
646-722-6530
[email protected]