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.

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Adapture 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.