America's largest HCPV solar generating plant has new owners

Whetstone Power LLC and the sustainable infrastructure arm of investment firm Rosemawr Management LLC have recently acquired a 30-MW high-concentration photovoltaic (HCPV) solar power station in Colorado with plans for a future modification.

The acquired facility is located in Alamosa and is selling power to Public Service Company of Colorado, a subsidiary of Xcel Energy Inc (NASDAQ:XEL). At the time of its commissioning in 2012, the plant was the largest of its kind in the world, though, since then a couple of bigger installations were completed. Still, it remains largest in the US.

In August 2016, Korea Electric Power Corp (KRX:015760), or KEPCO, agreed to buy the Alamosa facility from developer Cogentrix Energy Power Management LLC.

Following its second ownership transfer, the plant will be operated by Whetstone Power Operations and in the long term, its new owners will be looking to replace the existing HCPV systems with standard solar photovoltaic (PV) modules, possibly even linked to an energy storage facility.

The acquisition announcement mentions FTI Capital Advisors as sell-side advisor to the project but does not mention the seller.

According to the website of the US Department of Energy, which issued a USD-90.6-million (EUR 89.4m) loan guarantee in September 2011 to finance the particular project, it has exited its portfolio in June 2022.

(USD 1 = EUR 0.987)

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