- Talen Energy and Pattern Energy have launched a wind and solar joint venture in the US
- It will develop around 1.4 GW utility scale solar and wind power capacity as initial portfolio
- PT Energy Transitions will start with a 100 MW solar facility adjacent to Talen Energy’s Montour coal fired power plant that’s due for closure in 2025
A new utility scale focused renewable energy joint venture has been formed in the US called PT Energy Transitions to build close to 1.4 GW solar and wind energy capacity in the country over the next 5 years.
The new company is an expansion of the parent companies, Talen Energy Corporation and Patten Energy Group LP’s first joint development project, 100 MW Montour Solar One that Talen wants built near its Montour coal power plant in Washingtonville, Pennsylvania. The Montour coal project is mandated to cease operations by the end of 2025.
PT Energy Transitions will invest close to $2 billion into the energy transition over the next 5 years, starting with the Montour Solar Project as one of the largest renewable investments in Pennsylvania. It will be part of an initial portfolio of 6 solar facilities in Pennsylvania and a hybrid solar and wind facility in the Western United States.
Talen Energy said the joint venture will develop projects primarily located on its advantaged asset footprint.
In November 2019, Canada Pension Plan Investment Board said it will acquire Pattern Energy in a $6.1 billion all cash deal (see Canada Pension Fund Buys North American RE Company).
In January 2021, American singer Akon backed Black Sunruse Half Century Fund engaged Orbital Solar Services to replace redundant US coal facilities with utility scale solar farms, aiming to develop 1 GW capacity over next 3 years (see 1 GW Solar Capacity To Replace US Coal Facilities).
