BluEarth buys 22.9MW of under-construction solar assets in US

Canadian renewable power producer BluEarth Renewables LP has acquired a 22.9-MW portfolio of under-construction solar projects in the US, planned to be switched on this year.

The acquisition, carried out through BluEarth’s US affiliate is a “perfect fit” for the Canadian company, it said on Tuesday without providing financial details. The seller of the particular portfolio, known as the Butter Solar portfolio, is US-based OneEnergy Renewables.

The photovoltaic (PV) projects are spread across the states of Wisconsin, Minnesota and Iowa, with all 10 of them scheduled for commissioning in the second quarter of 2019. The plants will have capacities of between 0.6 MW and 5 MW each and will sell their output under a single power purchase agreement (PPA) to the Upper Midwest Municipal Energy Group. Associated Renewable Energy Credits (RECs) will be bought by Organic Valley, the City of Madison, Dr Bronner’s and NativeEnergy.

Commenting on the purchase, BluEarth’s president and CEO Grant Arnold said: “It builds on our growing portfolio in the United States and positions us to further expand our footprint as we pursue other opportunities ranging in size and complexity.” The Canadian developer currently has over 62.5 MW of operational assets in the US and an additional 795 MW under development.

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