Greenwood Energy closes 2-MWp solar buy in Delaware
Jun 25, 2013 - US renewable energy firm Greenwood Energy said Monday it had wrapped up the acquisition of 2 MWp of solar projects in Wilmington, Delaware.
The portfolio includes two 1-MWp projects being developed by utility Tangent Energy Solutions Inc. Following the purchase, Greenwood Energy's joint venture partner Greenwood Biosar will take care of the engineering, procurement and construction (EPC) of the two photovoltaic (PV) facilities. The plants are scheduled to become operational by October.
The Peninsula solar systems will sell their output to Delmarva Power & Light Company (DPL), which will also buy the solar renewable energy credits (SRECs) under a 20-year contract.
Greenwood Energy is the North American renewable energy division of Singaporean investment holding Libra Group (SGX:5TR). Since 2010 the company has been developing and building renewable energy facilities. The 2-MWp solar projects included, it is currently investing in a 12-MWp portfolio of solar assets in the states of Delaware, New York and Massachusetts. This group of installations is planned to be switched on by end-2013.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.