BTU - Peabody jumps 3% with the launch of R3 Renewables

Peabody (NYSE:BTU) launches R3 Renewables, a renewable energy development company, in a joint venture with Riverstone Credit Partners and Summit Partners Credit Advisors. The partnership brings together collective strengths in renewable energy project development, environmental management, extensive land holdings, permitting, and capital markets. Initially, R3 Renewables will be engaged in the development of six potential sites on large tracts of land on or near previous coal mining operations in Indiana and Illinois.  Industry veteran John Jones has been appointed as CEO. John brings nearly 30 years of expertise in the independent power industry, including senior roles at renewable industry leaders GE EFS, Lincoln Clean Energy and Invenergy.

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Peabody jumps 3% with the launch of R3 Renewables