- Press Releases
October 6 (Renewables Now) - Canadian solar and energy storage developer Westbridge Energy Corporation (TSXV:WEB) has bought a 221-MWp photovoltaic (PV) project in Texas, at mid-stage of development, from US sector player Aelius Solar Corp.
Through its US arm Westbridge Energy US Corp, the Vancouver-based firm has acquired all issued and outstanding membership interests in project company Accalia Point Solar LLC, Westbdridge said last week. The Canadian company told Renewables Now that it is scouting “a robust pipeline” of projects in Canada, the US and the UK and plans to originate one or more new projects by end-2021.
Westbride is committing up to USD 2.5 million (EUR 2.16m) for the development of Accalia Point, including for its acquisition, and around USD 2 million at project exit.
The Point scheme has long-term leases for 1,120 acres of farmland in Texas’ Cameron County. Preliminary environmental studies for the project have been completed and interconnection studies have begun. With Aelius’ help, Westbridge expects to finalise the development activities and sign an interconnection agreement by the first quarter of 2023. Options for the power off-take are still being considered and will be confirmed when the scheme nears construction.
Accalia Point’s purchase is in line with Westbridge's efforts to expand its portfolio of under-development projects and become a leading renewables development platform in North America.
(USD 1.0 = EUR 0.863)