Masdar acquires 50% stake in 1.6 GW renewable portfolio in USA
EDF Renewables North America and Masdar have signed a strategic investment in the United States that involves the acquisition of a 50 percent stake in a 1.6 gigawatt (GW) clean-energy portfolio.
Under the terms of the agreement, Masdar has acquired a 50 percent interest in:
- three utility-scale wind farms in Nebraska and Texas totaling 815 megawatts (MW),
- and five photovoltaic (PV) solar projects in California – two of which include battery energy storage systems – totaling 689 MW of solar and 75 MW of lithium-ion battery energy storage.
Both in Texas, the 243 MW Coyote wind project is located in Scurry County while the 273 MW Las Majadas wind project is in Willacy County. The 300 MW Milligan 1 wind project is in Saline County, Nebraska. All three wind projects are currently under construction and are expected to begin commercial operations in the fourth quarter of 2020.
Installed in Riverside County, California, the Desert Harvest 1 and Desert Harvest 2 solar projects have a total capacity of 213 MW of solar and 35 MW / 140 MWh of battery storage. Also in Riverside County are the 173 MW Maverick 1 and 136 MW Maverick 4 solar PV projects. These four projects are also under construction and slated for commercial operations in the fourth quarter of 2020. The final project in the portfolio is Big Beau, a 166 MW solar PV and 40 MW/160 MWh battery energy storage project, which is in Kern County and will reach commercial operation in 2021. All solar projects utilize horizontal single-axis tracking technology.
Power from the diversified portfolio projects will be sold under long-term contracts to a variety of off-takers, including utilities, hedge providers, and community choice aggregators (CCAs).
In total, the eight projects have created more than 2,000 jobs in the country’s clean energy sector and will displace more than 3 million metric tons of carbon dioxide annually.
The transaction is expected to close in the fourth quarter of 2020 as it is subject to customary regulatory approvals. BofA Securities is acting as exclusive financial adviser to Masdar.
Country news
-
-
August 17, 2020
Apollo Global invests in 270 MW offshore wind farm in USA
Apollo Global Management, Inc. announced that certain funds managed by its affiliates (“Apollo Funds”) have made a structured investment in US Wind Inc. (“US Wind”), an offshore wind energy development company. Apollo Funds have committed to invest through convertible debt and equity up to USD265 million to acquire an equity stake in US Wind and fund development and construction costs associated with a major offshore wind energy project off the coast of Maryland.
Read more -
August 13, 2020
Apex Clean Energy sells 500 MW wind farm in USA
Apex Clean Energy has sold the White Mesa Wind, located in Crockett County, Texas, to an unnamed buyer. When complete, the 500 MW White Mesa project will be the third-largest single-phase, single-site wind farm in the United States.
Read more -
August 13, 2020
McCarthy wins EPC for 300 MW solar PV project in USA
McCarthy Building Companies’ Renewable Energy & Storage team was named by Lightsource bp as the Engineer, Procure, and Construction (EPC) Contractor for the 300 MW Bighorn Solar project in Colorado, USA, which will include the installation of nearly 750,000 Canadian Solar crystalline solar panels and NEXTracker single-axis trackers. The project is primarily located on 1,800 acres of land on EVRAZ Rocky Mountain Steel property in Pueblo, making it the largest on-site solar facility dedicated to a single customer in the country.
Read more -
August 10, 2020
Facebook to purchase power from 300MW wind project in USA
Apex Clean Energy has executed a power purchase agreement with Facebook for approximately 170 MW of renewable power from the 300 MW wind project in Illinois, USA. With this latest in a series of transactions, Facebook is now Apex’s largest corporate customer by megawatt.
Read more -
August 07, 2020
J-Power and AP Solar to develop 400 MW Charger Solar
Japan’s Electric Power Development Co Ltd, known as J-Power, has signed an agreement with AP Solar Holdings LLC, a joint-partnership of Avondale and Plus Renewable Technologies, for the development of a 400 MW solar project in Texas, USA.
Read more
