US clean energy platform Peregrine Energy Solutions LLC has added to its portfolio an 80-MW operating wind park in northern Iowa with a plan to nearly triple its capacity and also install battery energy storage technology at the site in the future.
The Boulder, Colorado-based firm has acquired and will operate, redevelop and expand the assets of Old Gold Energy Center LLC, formerly known as Top of Iowa I, a press release said.
The assets were purchased through a partnership with a global alternative investment manager on behalf of funds it manages. Financial details were not provided.
The Old Gold Energy Center has been operational since 2001. Peregrine expects to complete the redevelopment initiatives toward the end of 2027.
“Our initial projections are that this project could be developed to a wind farm of up to 230MW with an 80MW battery energy storage system. Our current redevelopment timeline forecasts the redevelopment to be completed within the next five years,” said Matt Von Tungeln, director of development for Peregrine.
Peregrine is a clean energy platform with a focus on utility-scale energy storage that was formed recently as a result of a partnership between Peregrine Energy Management and alternative investment manager Castlelake LP.
The company earlier this year received a funding commitment from the international investment arm of Korean alternative investment manager IMM Investment Corp.
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