View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
January 20, 2022

Cordelio Power acquires 900MWac solar project pipeline in US

The utility-scale solar projects are expected to come online in 2023.

Canada-based renewable energy company Cordelio Power has announced the acquisition of a 900MWac pipeline of utility-scale solar projects, most of which are located in New York.

The company has acquired the portfolio from solar energy development firm SunEast Renewables for an undisclosed sum.

As part of the deal, Cordelio Power has received more than 600MWac worth of projects that are fully contracted with the New York State Energy Research Authority (NYSERDA) for a 20-year period.

The remaining 300MWac is from early-stage projects situated in Pennsylvania and New York.

The projects are expected to come online in 2023.

Cordelio CEO John Carson said: “We are delighted to expand into these new markets with the SunEast team.

“We look forward to several years of growth in New York and elsewhere as we advance the existing pipeline and originate new projects.”

SunEast has agreed to work with Cordelio to complete the projects that are included in the deal, as well as to develop new renewable power projects in New York and other eastern US markets.

Established in 2018, SunEast has built 1GWac of solar power capacity in New York, Pennsylvania and Maryland to date.

The company was founded as a partnership between SunEast Development and Alliance Fund II.

SunEast Development president Tom Swank said: “We are very excited about the opportunity to partner with Cordelio to efficiently transition SunEast’s portfolio of development assets into construction and operation.

“Cordelio brings both the skill set and financial capability to complete development and build an operating portfolio of solar projects that will provide clean, sustainable, cost-effective renewable power to customers in our target markets.”

In July 2020, Cordelio acquired two wind farms in central Illinois, with a nameplate capacity of more than 350MW, from Swift Current Energy.

Related Companies

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU