March 10 (Renewables Now) - US renewables firm Tri Global Energy LLC (TGE) has agreed to offload its 180-MW Flatland Solar project in Texas to alternative investment manager Silverpeak.
Tri Global announced the agreement on Monday without providing specific terms and financial details. It said, however, that it will keep its role as a lead developer through the financing and construction phases of the scheme, which is its first photovoltaic (PV) project in Texas.
The Flatland solar park will be installed in Scurry County on a 950-acre site, with construction planned to begin later this year. The power plant will be equipped with almost 690,000 PV panels that will feed their output into The Electric Reliability Council of Texas’ (ERCOT’s) power grid. An expansion of the PV farm is possible at a later phase, Tri Global said.
Great Bay Renewables, a subsidiary of Altius Renewable Royalties, has provided royalty financing to complete project development.
This is not the first partnership between Tri Global and Silverpeak. Last October, the investment manager agreed to purchase Tri Global’s 360-MW Canyon Wind project in Texas, within ERCOT’s West load zone.