Broad Reach Power, a Texas-based IPP (independent power producer), has reportedly announced its acquisition of wind and solar projects with a capacity of 250-MW each. Both these facilities are located in Billings, Montana.
The solar & wind projects, which are located in Billings, have been acquired from Invenergy, a privately-held sustainable energy project developer. These projects are anticipated to be online in 2022 & 2023 respectively. They will also be a part of the existing portfolio of Broad Reach Power’s solar & battery storage assets.
In addition, the projects will be included in the broader energy portfolio of Broad Reach Power in the Pacific Northwest, consisting of more than 1,400-MW of the clean energy generation projects and above 900-MW of the storage projects. The company is known for developing, acquiring, owning, and operating power plants across the globe. It currently owns a 5-GW portfolio of utility-scale solar & energy storage power projects in total, which are located in Texas, Utah, Wyoming, California, and Montana.
As per the statement made by Daniel Zolnikov, Broad Reach Power’s Developer, the latest announcement highlights the company’s continuous investment in Montana. It is looking forward to developing these two projects, which will aid in offering the much-needed reliability to the grid in the region. Moreover, the projects will provide valuable local construction jobs and contribute significant tax dollars to Golden Valley, Stillwater, Yellowstone, and other counties.
According to James Ferguson, Broad Reach Power’s Vice President of Development, the company has built a dynamic portfolio of clean power & standalone storage power facilities in the Pacific Northwest via mergers and acquisitions and greenfield development in a short period of time. In addition to this, it has become a leading energy storage projects owner in the ERCOT interconnection queue in Texas in nearly a year.