St. Louis, US based renewable energy company Birch Creek Energy has expanded its total solar and storage projects pipeline in the country to 13.5 GW with the acquisition of greenfield solar developer Foundation Solar Partners.
Washington headquartered Foundation Solar comes to Birch Creek's fold with over 800 MW PV capacity developed and sold, and an additional pipeline of solar and storage projects adding up to around 5 GW mostly in the MISO and PJM markets of the US.
With this acquisition, the latter now has 13.5 GW solar and storage projects pipeline at various stages of development, and 1.7 GW capacity already developed.
"They not only bring immediate value by materially increasing our portfolio in key markets such as PJM and MISO, but the acquisition of the team brings a proven greenfield engine which will increase our velocity and scale," said Birch Creek CEO Dan Siegel.
Birch Creek purchased Foundation Solar from private equity firm Hull Street Energy that invests in power sector 'as it decarbonizes'.