Acquisition to expand BluEarth’s energy project
BluEarth Renewables LLP, a leading power producer that operates wind, hydro and solar facilities has announced that its U.S. affiliate has bought a 22.9 MWAC solar portfolio from OneEnergy Renewables, a prominent developer of community and utility-scale solar energy projects.
Grant Arnold, CEO and President of BluEarth Renewables, stated, “The acquisition of the Butter Solar portfolio is a perfect fit for BluEarth given our ability to finance, construct and operate renewable energy projects. It builds on our growing portfolio in the United States and positions us to further expand our footprint as we pursue other opportunities ranging in size and complexity,” This acquisition complements BluEarth’s existing portfolio in the United States which comprises over 62.5 MW under construction and 795 MW under development.
Utilizing solar energy to provide electricity
The projects better known as the Butter Solar Portfolio are located across three states namely Wisconsin, Minnesota, and Iowa. They consist of 10 projects ranging from 0.6 MW to 5 MW. These projects are currently under construction with a commencement date in the second quarter of 2019. Once the energy is sanctioned, it will be sold under a single power purchase agreement to the Upper Midwest Municipal Energy Group.
Grant Arnold, CEO, and President of BluEarth Renewables stated, “Electricity generated by the Butter Solar portfolio will directly service the local communities where the projects are located. We look forward to working with all of our local stakeholders as we bring these community solar projects into operation in the coming months.”
Partnership to produce cost-effective renewable energy
The Butter Solar portfolio resulted from a partnership between Organic Valley, OneEnergy Renewables and the participating communities. Eric Udelhofen, Director of project development at OneEnergy Renewables stated, “These Projects exemplify the maxim that ‘many hands make light work’, and reflect a huge amount of effort and commitment from many people, including community members, utility boards, REC partners and city, and village officials.” Further, he added, “OneEnergy is humbled by the perseverance of everyone involved to help advance the projects to construction. We look forward to replicating this approach with others to bring cost-effective renewable energy to rural communities across the country.”