CIP to purchase stake in 440MWdc solar PV project in Texas

23 March 2020 (Last Updated March 23rd, 2020 12:20)

Plus Renewable Technologies (Plus) has signed an agreement with Avondale Solar to sell their stake in Fighting Jays Solar, a 440MWdc solar PV project in Fort Bend County, Texas, US.

CIP to purchase stake in 440MWdc solar PV project in Texas
CIP affiliate to acquire a stake in Fighting Jays Solar project in the US. Credit: COPENHAGEN INFRASTRUCTURE PARTNERS K/S.

Plus Renewable Technologies (Plus) has signed an agreement with Avondale Solar to sell their stake in Fighting Jays Solar, a 440MWdc solar PV project in Fort Bend County, Texas, US.

It is being sold to an affiliate of Copenhagen Infrastructure Partners (CIP).

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

CIP senior partner Christian Skakkebaek said: “We are excited to be involved in Fighting Jays Solar, which is strategically located in the fastest growing load pocket in ERCOT.

“This transaction signifies another major investment by CIP in the Texas renewable energy market and CIP looks forward to working with our local partners to produce clean energy for the Houston Zone.”

Both Plus and Avondale Solar are developing the solar facility through their affiliate company AP Solar Holdings (AP Solar).

The ground-breaking of Fighting Jays Solar is expected to take place in the second half of this year and the project is likely to commence operations by mid-2022.

The company further added that due to the site’s close proximity to the Houston metro area, the solar project is expected to experience negligible restriction and basis risk to the premium Houston Zone of ERCOT.

AP Solar Holdings CEO Trevor Nash said: “We are very pleased to be working with Copenhagen Infrastructure Partners on the development of Fighting Jays Solar, and, based on the market dynamics and data that we are seeing, Fighting Jays Solar will be well-positioned to provide low cost, clean and reliable power to the Houston Zone.”

Last September, CIP acquired the 374MW onshore wind portfolio Monegros in Aragon, Spain, for an undisclosed sum.