SB Energy will acquire a 1.7 GW PV portfolio from Intersect Power
Post date: 04/11/2019 - 16:28
SB Energy Global Holdings Ltd., a subsidiary of Softbank Group Corp., will acquire a portfolio of five U.S. solar power plants with a combined capacity of more than 1.7 GW from utility-scale renewable energy developer Intersect Power, LLC. SB Energy will build, own and operate the PV plants located in Texas and California, and expects to begin construction in early 2020. SB Energy and Intersect Power previously partnered to develop these projects. In total, the projects will support more than 3,000 jobs during construction.
The companies have entered into long-term power purchase agreement (PPA) to sell the renewable energy to several customers: »Aragorn« (250 MW) in Culberson Country, Texas, to Austin Energy; »Athos I«, 350 MW in Riverside County, California, to Direct Energy Business; »Athos II«, 300 MW in Riverside County, California, to an unnamed company; »Juno, 425 MW in Borden County, Texas, to Lower Colorado River Authority (LCRA) and one unnamed company; »Titan, 375 MW in Culberson County, Texas, to an unnamed company.
According to the company, SB Energy has 7.2 GW of solar and wind projects under long-term contract in the United States and India, and more than 1.5 GW in operation. Intersect Power has more than 1.7 GW of contracted, late-stage solar projects across California and Texas, along with 2.9 GW of early- to mid-stage projects.