The latest acquisition adds to BluEarth’s current energy portfolio in the U.S., which currently has 795 MW under development and over 62.5 MW in operatio.
BluEarth Renewables LP, a renewable energy company based in Canada, has reportedly announced that its US affiliate has recently acquired a 22.9- MW solar portfolio in the United States from OneEnergy Renewables, which is a leading, U.S.-based utility-scale solar energy projects developer.
Reportedly, the solar portfolio was created as a result of the creative collaboration between OneEnergy Renewables, Organic Valley and the participating communities.
As per trusted sources, the newly acquired solar portfolio, known as the Butter Solar Portfolio, consists of ten projects that range from 0.6 MWAC to 5 MWAC and are situated in three states including Minnesota, Iowa and Wisconsin. Sources further cited that the projects are under construction at present, and targets commercial operations commencing in 2019’s second quarter. Following the commissioning of the projects, energy will be sold to the UMMEG (Upper Midwest Municipal Energy Group), a joint action agency that represents its member utilities, under one PPA (power purchase agreement). Later on, the City of Madison, Organic valley, NativeEnergy and Dr. Bronner’s will purchase the REC (Renewable Energy Credits) generated from the projects.
Grant Arnold, the Chief Executive Officer & President at BluEarth, was quoted stating that the Butter Solar Portfolio acquisition is an achievement for BluEarth, given the company’s potential in financing, constructing and operating renewable energy projects. The projects will help the company build on its growing portfolio in the U.S. and enable it to expand its footprint by pursuing many other opportunities. He further elaborated on the latest move saying that the electricity generated through the projects is likely to serve the local communities and the company is eager to work with all the local stakeholders after the solar projects become operational in the upcoming months.
Apparently, the solar projects exemplify loads of efforts from the community members, REC partners, utility boards, city & village officials. The company aims to provide rural communities with cost-effective renewable energy.