US based renewable energy company Pristine Sun Corporation has found $250 million in capital commitments from unnamed but strategic private equity and family office investors to develop, finance and build up to 5 GW solar project capacity in the US.
With this funding coming in, Pristine says it will work on proposed and active renewable energy pipeline in Texas, California, and Louisiana where it has an 'aggressive plan' to rapidly develop significant projects.
"Three projects will exceed 1 GW, making them some of the largest in the world. 1 GW is about the capacity of two to three large coal or natural gas plants," said Founder and Chairman of Pristine, Troy Helming.
Pristine will also use the capital to explore additional opportunities in continental US.
A developer of utility scale solar and wind energy projects since 1995, Pristine and its affiliates have developed more than 25 GW farms, according to the management that claims to have another 20 GW in the pipeline.