Broad Reach acquires solar and wind projects from Invenergy in US

18 December 2020 (Last Updated December 18th, 2020 11:33)

Independent power producer Broad Reach Power has acquired two US renewable projects from project developer Invenergy, for an undisclosed sum.

Broad Reach acquires solar and wind projects from Invenergy in US
The solar and wind projects in Montana, US, will come online in 2022 and 2023. Credit: Jason Blackeye on Unsplash.

Independent power producer Broad Reach Power has acquired two US renewable projects from project developer Invenergy, for an undisclosed sum.

Broad Reach purchased a 250MW solar project and a 250MW wind project in Billings, Montana. The projects will come online in 2022 and 2023, respectively.

Broad Reach Power developer Daniel Zolnikov said: “I am looking forward to beginning development on these projects as we continue investing in Montana.

“Once completed, these projects will provide much needed reliability to the region’s grid while also contributing valuable local construction jobs and significant tax dollars to counties such as Yellowstone, Stillwater and Golden Valley.”

The generation facilities will contribute to Broad Reach’s existing portfolio of solar and battery storage assets located in Billings.

Currently, Broad Reach has a pipeline of more than 1.4GW of renewable generation projects. It also has over 900MW of storage projects in development in the Pacific Northwest region.

Broad Reach is backed by energy investors including EnCap Investments, Yorktown Partners and Mercuria Energy.

Broad Reach Power Development vice-president James Ferguson said: “Similar to Texas, where we have become the leading owner of storage projects in the ERCOT interconnection queue in just over a year, we have also built a dynamic portfolio of both renewable power and standalone storage power plants in the Pacific Northwest through greenfield development and M&A in an equally short amount of time.”

Last month, Broad Reach acquired the 25MW/100MWh front-of-the-meter Cascade Energy Storage project in California from Enel’s subsidiary.