California, US based renewable energy developer Solariant Capital, LLC has announced a partnership with a subsidiary of Japanese financial services company Daiwa Securities Group to co-develop over 1 GW AC of solar and 2.5 GWh of battery energy storage system (BESS) capacity in the US.
This initial capacity is part of Solariant's existing US portfolio that's currently under development across the Southeast and Southwest US. The partners will also be co-investors in the transaction. They also plan to acquire additional development stage projects through the equity partnership as they 'aggressively' expand their US renewable energy portfolio.
The decision to expand in the US is based on the US government's favorable view of renewables and support through enabling policies as Daiwa subsidiary Daiwa Energy & Infrastructure Co. Ltd. (DEI) CEO Morimasa Matsuda explained, "With the current favorable environment for renewable energy in the US driven by the recent administration's aggressive climate goals and support from state and local governments, we believe this partnership is a great opportunity for DEI to expand our footprint into the US market."
Solariant expects this partnership to strengthen its position in the market and expand operations across new markets.