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.
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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.