March 5 (Renewables Now) - US energy project developer Glidepath Ventures has offloaded a portfolio of early-stage solar projects in the US with a combined direct current (DC) capacity of 887.5 MW.
The utility-scale schemes were purchased by an unnamed clean energy-focused development and investment company, the seller said on Wednesday without providing financial details on the deal. The particular projects are located in the PJM Interconnection regional transmission area and are slated to begin commercial operations in 2022.
"This transaction underscores the success of our scaled origination platform, which we are now deploying with similar success in multiple markets across the United States," said Carl Jackson, a partner of Glidepath.
Following the sale, the Pennsylvania-based firm will continue to expand its portfolio, which now consists of more than 2 GW of early- and mid-stage solar projects. Earlier this month, Glidepath agreed to offload 278 MW DC of distributed generation (DG) projects in Pennsylvania to Canada-based Grasshopper Solar for more than USD 300 million (EUR 269.5m).
(USD 1.0 = EUR 0.898)