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Energy firm lands $130 million in financing to expand

An energy trading and wholesale startup that’s based in south Florida and Denver attracted $130 million in a round led by Colorado investors on Monday. Guzman Energy Group secured $130 million in equity and mezzanine debt financing to expand its operations, the main hub for which is in downtown Denver. The company uses wholesale energy purchasing and hedging to help its customers — primarily rural electric cooperatives and municipal power utilities — lower rates and achieve price stability for renewable sources of energy, Guzman Energy says. Boulder-based Vision Ridge Partners and...

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Guzman Energy Raises $130 Million in Liquidity to Fund Continued Growth

Colorado-Based Energy Investors Vision Ridge Partners, ZOMA Capital Provide a Combined $130 million Investment Via Equity and a Mezzanine Financing Facility DENVER—Guzman Energy Group (“Guzman Energy”)—a full-service energy company whose services include providing wholesale power, energy trading and hedging services—announced today that it has secured $130 million in additional liquidity to continue to expand its efforts to deliver cheaper and greener energy to consumers in the West and beyond. Experienced energy investors Vision Ridge Partners and ZOMA Capital are providing the capital. The energy landscape in the United States is rapidly...

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Rural electric cooperatives look at cutting the cord

Craig Station, a Tri-State Generation & Transmission Association coal-fired power plant in northwest Colorado. (Jimmy Thomas / Wikimedia Commons) Luis Reyes drove up to Durango from Taos, New Mexico, on a sunny April day in 2017 to tell folks how the Kit Carson Electric Cooperative, which he heads, left its interstate wholesale power provider and struck out on its own — and the room where he spoke at Durango’s Strater Hotel was packed. Kit Carson had paid $37 million to get out of its long-term contract with the Westminster-based Tri-State Generation...

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Eagle Nest solar array ribbon cutting set July 25

Join officials from Kit Carson Electric Cooperative, Guzman Energy and around the area for a ribbon-cutting celebration for the newly constructed 1MW solar array 10 a.m. to noon, Wednesday (July 25) at 28458 Highway 64 (near Eagle Nest Lake). The structure — which features more than 4,000 panels overlooking Eagle Nest Lake — was constructed thanks to a partnership among Kit Carson Electric Cooperative (KCEC), Guzman Energy, Parasol Solar and Syncarpha Capital. The array — which will serve upwards of 2,000 Kit Carson members in the Moreno Valley and surrounding area —...

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Will co-ops in southwestern Colorado stay with Tri-State?

Colorado-based Tri-State Generation & Transmission boasts of having the most solar generation of any G&T in the United States. But whether it’s shifting to renewables quickly enough from its coal-heavy portfolio — and flexible enough to accommodate locally-generated electricity — has become a central issue with several of the 43 member cooperatives....

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Kit Carson Electric setting national example for renewable energy

La Plata Electric Association has long touted its support for green energy, but now it’s close to reaching a cap on the local renewable power it can support. The co-op serves more than 30,000 members in La Plata and Archuleta counties, and it is contracted to buy 95 percent of its power from Tri-State Generation and Transmission until 2050. While there is interest in generating more renewable power in the region, LPEA is about to hit a limit imposed by Tri-State on purchasing renewable power from other sources. In contrast, northern New Mexico...

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Reyes: Kit Carson co-op sets the record straight

In recent months, the topic of energy providers has emerged as a polarizing issue with information – some accurate, some patently false – being disseminated through public opinion forums and presented as fact. As CEO of the Kit Carson Electric Cooperative, the only co-op that has successfully ended its relationship with Tri-State Generation and Transmission, I write this without opinion or conjecture, but rather with objective facts. On Feb. 24, The Durango Herald ran a column titled “What I see for LPEA when it comes to power supply”authored by Mike Dreyspring, CEO...

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Colorado co-ops consider dropping their energy provider

Colorado-based Tri-State Generation & Transmission boasts of having the most solar generation of any G&T in the United States. But whether it’s shifting to renewables quickly enough from its coal-heavy portfolio — and flexible enough to accommodate locally-generated electricity — has become a central issue with several of the 43 member cooperatives. Directors of one of those member co-ops, La Plata Electric Association, voted in January to study alternatives during the next 10 to 15 years. The decision was made by the Durango, Colorado-based co-op after a petition was signed by 1,000...

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San Isabel Electric Association insists it can purchase Black Hills Energy

Could Pueblo create a new electric utility by finding a wholesale power provider that would partner with San Isabel Electric Association -- replacing Black Hills Energy? That was the question discussed Tuesday night when the community group Pueblo's Energy Future hosted a discussion with officials from Guzman Energy LLC, a wholesale power company, and San Isabel officials. San Isabel has previously made a $1.1 billion offer to buy the regional Black Hills electric utility but the investor-owned company answered that it was not for sale -- and questioned San Isabel's ability...

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Penasco Receives Donated Scoreboards

Saturday, Jan. 27 brought a special addition to the Penasco schools gymnasium just prior to Panthers Homecoming basketball, as Guzman Energy unveiled new electronic scoreboards that they are donating to the school district. The new scoreboards were donated by Guzman Energy, exclusive energy partner to Kit Carson Electric Cooperative. In February 2017, Guzman Energy announced its exclusive partnership with Kit Carson Electric Cooperative (KCEC) to generate renewable energy to cover 100 percent of the daytime load and achieve summer-solar energy independence by 2022. The company appears to be taking its role...

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