PKA invests in 410 MW solar projects in California
PKA has announced that it has acquired 49% stakes in the Garland and Tranquility solar power plants, both located in California, USA, from Recurrent Energy, a subsidiary of Canadian Solar. The remaining 51% stake in both parks is owned by Southern Power, a subsidiary of Southern Company.
This acquisition represents an investment of DKK2 billion (~US$300 million). The two solar parks have a total capacity of 410 MW and deliver green power to more than 100,000 US homes. Together they cover an area corresponding to almost 5,500 football pitches and contain more than 1.5 million solar panels.
The investment is also PKA's first direct infrastructure investment in the United States.
This investment in Garland and Tranquility, brings PKA's investments in climate-related projects to approximately DKK21 billion (US$3.17 billion). PKA's ambition is that 10% of its assets amounting to DKK30 billion (US$4.53 billion) are invested in climate projects by 2020.
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