Pelion Green Future-backed firm seeks to develop 3 GW in US, Canada

Solar panels in USA. Author: Pete Jelliffe. License: Creative Commons. Attribution-NoDerivs 2.0 Generic.

July 26 (Renewables Now) - Proteus Power, a recently formed renewables developer backed financially by global clean energy investor Pelion Green Future, has established US headquarters in a drive to deploy more than 3 GW of solar, wind and battery energy storage in North America.

The company, which manages the entire project value chain, is looking to develop bankable renewable energy projects that are strategically placed to sign long-term power purchase agreements (PPAs) with corporate or industrial purchasers.

Proteus said it is currently evaluating more than 30 projects in its initial target areas of Texas, Arizona, Nevada, Utah, Colorado and New Mexico, as well as in Alberta, Canada. Moreover, it has already initiated the development of three solar projects in Alberta totalling 234 MW. They are collocated with 97 MW of battery storage.

The company is now based in The Woodlands, Texas, and is led by Mike Lambros as chief executive officer, Randy Etheridge as chief operating offer and Dan Phillips as chief development officer. It says its team has more than 70 years of cumulative experience in project development and finance, and over USD 7.1 billion (EUR 6.94bn) worth of transactional experience.

(USD 1 = EUR 0.977)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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