S-Power acquired 1 GW solar projects in New York
Post date: 11/12/2020 - 11:10
S-Power, a renewable energy Independent Power Producer (IPP), acquired nine solar projects in the US state of New York from National Grid Renewables, the renewable energy arm of National Grid's competitive. The portfolio includes projects in Franklin, Jefferson, Chautauqua, Lewis, and other counties across Upstate New York. It is estimated to have a 1 GW capacity of renewable energy.
Six of the nine projects are currently in the early stages of the permitting application process. The projects are expected to reach commercial operation between December of 2022 and December of 2023. National Grid Renewables develops, owns and operates large-scale renewable energy assets across the United States, including solar, wind and battery storage.
The news of this portfolio acquisition from National Grid Renewables comes as sPower announced in November a merger with The AES Corporation's US-based clean energy development business. S-Power has been jointly-owned by AES and Alberta Investment Management Corporation (AIMco) since 2017. The AES-sPower transaction is expected to close in the next few months.
In New York, the merged business will have a combined operating portfolio of nearly 150 MW and a development portfolio of more than 1 GW.