Solar developer Adapture Renewables has acquired an 81MW solar project in the US from Korean photovoltaic manufacturer Hanwha Q Cells.
The Rippey Solar project, located in Cooke County, Texas, finished construction in April 2020. The project achieved commercial operation in December.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Hanwha Q Cells USA senior vice-president JK Lee said: “We’re very proud to partner with Adapture Renewables to bring this project to completion.
“The seamless integration between our development, engineering, procurement, construction, and module supply teams facilitated a very efficient transaction during a challenging time in the capital markets due to Covid-19.”
Adapture Renewables financed the project using in-house capital and plans to own and operate the facility in the long-term.
The acquisition of the solar farm brings the company’s solar generation portfolio to 239MW DC across the US, including 95MW DC in Texas.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAdapture Renewables COO Donald Miller said: “We take a deliberate approach to project selection and acquisition, adding only high-quality assets to our growing portfolio.
“The team at Q Cells delivered a first-class facility with the Rippey project, and we’re looking forward to our new role as long-term neighbours, providing renewable energy to Texas consumers.”
The companies have not disclosed financial details of the deal.
In December last year, Q Cells acquired energy storage solutions company Growing Energy Labs.
This company develops a software platform to streamline the energy storage development process with design, automation, and management capabilities.
The deal marks Q Cells’ expansion into the US solar and storage market.
