The acquired solar facilities are in the Midcontinent Independent System Operator (MISO) territory in Illinois and Arkansas. Credit: Diyana Dimitrova via Shutterstock.com.

Utility-scale projects developer Adapture Renewables has acquired three solar projects in the US from TED Renewables.

Financial details of the deal have not been disclosed by the companies.

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The solar facilities are in the MISO territory in Illinois and Arkansas.

The acquisitions will add a total capacity of 333MWac/450MWdc to Adapture Renewables’ portfolio.

Adapture Renewables mergers and acquisitions senior director Christina Conrad stated: “These project acquisitions bolster our company’s mission to expand clean energy solutions and drive sustainability in the power generation sector.

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“As we continue to grow, expanding into new markets presents an exciting opportunity to serve new communities, meet the need for clean energy and deliver affordable electricity.”

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When the projects are put into service, Adapture Renewables’ operating asset portfolio will more than double, reaching 800MWdc.

For Adapture Renewables, this will be the second major acquisition in 2023 and an expansion of its presence in new markets.

All three projects are currently at the pre-notice to proceed stage and anticipated to commence commercial operations in 2025 and 2026.

The company intends to involve local contractors and businesses during the construction phase and to employ local residents to carry out operational and maintenance work.

The clean energy generated by the three projects will power 72,000 homes annually.

Tyr Energy Development Renewables president and CEO Robert Shanklin stated: “Over the last five years, TED Renewables has successfully executed three exceptional projects, and we are thrilled Adapture Renewables will carry them forward to completion.”

In March 2021, Adapture Renewables acquired an 81MW solar project in the US from Korean photovoltaic manufacturer Hanwha Q Cells.

The Rippey Solar project, located in Cooke County, Texas, completed construction in April 2020.