US-based energy infrastructure developer Palladium Energy and energy investor Inverdale Energy Partners have announced a joint venture project to develop solar projects across the US.
The new joint venture, Palladium Energy Development, will initially focus on the development of 500MW of utility-scale solar and storage projects across the US.
Palladium Energy managing partner Nobel Chang said: “This partnership empowers our team to develop a significant pipeline of solar and solar and storage projects, and satisfy the rapidly growing demand for renewable energy from states, utilities and corporate power purchasers across the country.”
The company will be aim to provide low-cost, renewable energy across the US.
Palladium Energy focuses on developing and financing renewable energy projects with across the country. So far, it has developed projects with a capacity totaling 4.1GW, and financed the construction of projects with $2.3bn.
Inverdale managing director Richard Carrell said: “Palladium has a talented executive team and a high-quality pipeline. We look forward to locating and advancing capital investment opportunities in the renewable energy space with Palladium as a partner.”
In another development, Salt River Project and sPower have announced that construction works have started on the East Line Solar project in Pinal County, Central Arizona.
The project will deliver 100MW of solar generation to technology company Intel’s Chandler facility.