Enel Green Power buys US solar portfolio from Dakota Renewable Energy
Join Our Newsletter - Get important industry news and analysis sent to your inbox – sign up to our e-Newsletter here
X

Enel Green Power buys US solar portfolio from Dakota Renewable Energy

14 Jul 2021 (Last Updated July 14th, 2021 09:31)

The acquisition of the projects puts Enel Green Power's mature development pipeline at a total of 12GW.

Enel Green Power North America has acquired a 3.2GWdc solar portfolio from Dakota Renewable Energy, a joint venture of Dakota Power Partners and Eolian.

Under the deal, Enel Green Power has bought 24 development-stage projects with 450MW of collective capacity.

Located in New Jersey, Pennsylvania, Delaware, West Virginia, Missouri and Colorado, the projects are planned for commercial operation in 2023.

Dakota Renewable Energy began the projects and carried out development works on them.

Dakota Power Partners co-founder and principal Jay Schoenberger said: “Under Enel Green Power’s stewardship, this outstanding portfolio of solar farms will produce cost-effective zero-emissions power, create jobs and deliver major economic benefits to the communities hosting these significant investments.”

Many of the projects located in the Mid-Atlantic region are paired with battery storage to capture additional value streams and add resiliency to the power grid.

The acquisition of the solar portfolio puts Enel Green Power’s mature development pipeline at a total of 12GW between greenfield development and acquisitions.

The financial terms of the deal have not been disclosed by either company.

Enel Green Power North America president and CEO Georgios Papadimitriou said: “While momentum continues to build for clean energy in the US, we are accelerating our own growth plans by adding this substantial portfolio of solar projects to our medium-term development pipeline.

“As we enter new markets in the Mid-Atlantic and West, we will integrate the successful community-centred development approach that has enabled us to become one of America’s renewable energy leaders over the last two decades.

“These projects will play a key role in our efforts to help states reach their clean energy targets, spur job creation and meet rising corporate demand for renewables.”

Last December, Enel Green Power North America announced the start of operations at a 199MW expansion of the Cimarron Bend wind farm in Clark County, Kansas.

The expansion increased the facility’s total capacity to 599MW, making it Enel Group’s largest operational renewable plant in the world.