Invenergy Buys Stake in Atlantic Green

1 August 2011 (Last Updated August 1st, 2011 18:30)

Atlantic Green Power has sold its majority interest in its US-based 'Project Company' to Invenergy Solar Development for a cash reimbursement of project costs. The sale is also tied into a future consideration for a solar project to be constructed in southern New Jersey, US.

Atlantic Green Power has sold its majority interest in its US-based 'Project Company' to Invenergy Solar Development for a cash reimbursement of project costs.

The sale is also tied into a future consideration for a solar project to be constructed in southern New Jersey, US.

Upon completion, the project will be capable of generating 10MW of clean, renewable solar power.

Invenergy executive vice-president and chief development officer Jim Shiel said this acquisition provides the company with another project having an advanced interconnection queue position in New Jersey.