Construction works for the projects are expected to begin gradually between next year and 2025.
Elio CEO Daven Mehta said: “The partnership with European Energy will accelerate the development of large-scale solar and storage projects in Arizona and surrounding states by providing the requisite financial security while supporting the renewable procurement goals of the IOUs and Cooperatives.
“We have a large pre-development pipeline and are well on the way towards our mutual goals in support of European Energy.”
A greenfield utility-scale renewable project developer, Elio Energy Group focuses on solar and battery energy storage projects across the southern US.
The company has more than 2.5GW of capacity actively in development, as well as a 6GW pre-development pipeline.
EE North America, a subsidiary of Danish energy firm European Energy, entered the US market earlier this year.
The company aims to develop 10GW of renewable energy capacity in the country by 2026 to help state and local governments across the US achieve their net-zero emissions targets.
EE North America CEO Lorena Ciciriello said: “Our partnership with Elio Energy is another step forward in EE North America’s growth story.
“This portfolio will provide the clean energy that customers demand while also making a significant contribution to meeting net-zero goals in the region.
“We look forward to working with Elio Energy on this major investment in the future of energy in (the) region.
“In addition to our expertise in renewable energy, EE North America offers a range of commercially mature and financially viable energy solutions that can help address sectors of the economy that are difficult to decarbonise, including transportation, shipping and industry.”