- Press Releases
July 23 (Renewables Now) - Avangrid Renewables LLC, a unit of US clean energy company Avangrid Inc (NYSE:AGR), said on Thursday that it will continue its development work on a 600-MW solar and storage projects in Nevada after selling the portfolio to Primergy Solar LLC this spring.
The portfolio consists of two solar projects with co-located battery storage, and is meant to replace the capacity of the 522-MW North Valmy coal-fired plant in Nevada, which is facing an earlier retirement.
NV Energy, a utility that co-owns and operates the North Valmy station, included the two projects in its Integrated Resource Plan it recently filed with the Nevada Public Utilities Commission.
The projects are Avangrid Renewables’ initiative, which started in 2017 after the company spotted an opportunity with the anticipated closure of North Valmy, the company said.
The proposal includes the Hot Pot Solar project with a 350-MW AC (455 MW DC) solar farm coupled with a 280-MW four-hour battery, and Iron Point Solar, a 250-MW AC (325 MW DC) solar farm with a 200-MW four-hour battery component.
Under the sale agreement, Primergy, a California-based solar and storage outfit, will oversee the projects’ design, procurement, financing, construction and entering into commercial operation. Avangrid Renewables will stay on board to perform development services for the projects, it said.
The Iron Point Solar Project is expected to commence service in 2023, while Hot Pot Solar is due to follow in 2024.
Primergy Solar LLC is a portfolio company of investment manager Quinbrook Infrastructure Partners.
Avangrid Inc and Avangrid Renewables are part of Spanish utility group Iberdrola SA (BME:IBE).