Scout's portfolio grows with 112-MWp solar project purchase in Missouri
Solar panels. Featured Image: Jackiso/Shutterstock.com
Colorado-based renewables developer Scout Clean Energy has clinched a deal to acquire a 112-MW DC solar project in Missouri from developer Azimuth Renewables LLC.
While the value of the purchase was not disclosed, Scout said on Thursday it intends to invest USD 120 million (EUR 106m) to bring the project through construction and into operation. The acquisition concerns the Stockton Lake solar photovoltaic (PV) scheme in southwestern Missouri’s Polk County.
Scout, which is a portfolio company of Quinbrook Infrastructure Partners, has sealed a development services agreement with Azimuth that calls for its partner to take an active role during the development phase. After that, Scout will take care of procuring the required equipment and will build and operate the solar park.
Once entering commercial operations in 2025, Stockton Lake will be owned and operated by Scout, adding to its 1.2-GW portfolio of operating assets.
The solar farm will connect directly to the AECI transmission network via a substation operated by KAMO Power. An interconnection agreement for Stockton Lake is expected to be signed in the first quarter of next year.
The Stockton Lake PV park is expected to generate around 200,000 MWh of electricity per year that will be enough to supply over 15,000 local homes.
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.