- Hydro Power Technologies has signed a joint venture agreement with MESTEE to invest in solar energy in Lebanon
- Greenbacker has purchased a 41 MW utility scale solar project from Prism Power Partners in Michigan, US
- iSun has entered a definitive agreement to acquire residential and commercial solar installer SunCommon
- Osaka Gas USA and Mitsubishi Heavy Industries have formed a joint venture to acquire stake in a 15.7 MW solar project of Oriden
Canada’s HPT JV for solar in Lebanon: Ontario, Canada based Hydro Power Technologies, Inc. (HPT) has entered a joint venture agreement with Lebanon headquartered Middle East Solutions and Technologies for Energy and Environment (MESTEE) to jointly invest in solar energy projects in Lebanon. MESTEE had submitted initial bids in June 2018 in response to 3 major solar energy projects. It has now been shortlisted for the contracts and hence has brought HPT on board. The 3 solar projects need to be completed between 2021 and 2026. In May 2021, HPT acquired stake in Italian solar energy company Zuc Energy SRL.
Greenbacker shops for 41 MW solar: Greenbacker Renewable Energy Company LLC has acquired a 41 MW utility scale solar power project from Prism Power Partners LLC for an undisclosed amount. The 41 MW Heathlands project is Greenbacker’s largest asset in Michigan, US and its 3rd from developer Prism. The Heathlands Solar Project is yet to be constructed, and is designed with an option to add co-located battery energy storage systems onsite. Greenbacker shared its plans to make it an agrivoltaic facility with pollinator friendly vegetation below the panels. Construction is expected to be launched in early 2022 and reach commercial operations in Q4/2022. On completion, it will sell clean energy to an unidentified investment-grade offtaker under a long term power purchase agreement (PPA). Greenbacker counts its total generating capacity to reach around 2.18 GW once this facility comes online. It would comprise 1.82 GW of utility scale and distributed solar facilities, and also have wind, battery storage and biomass facilities.
iSun acquires SunCommon: Solar energy and clean mobility infrastructure company iSun, Inc. has entered a definitive agreement to acquire residential and commercial solar installer SunCommon through its subsidiary. According to iSun, this will enable it to effectively capitalize on emerging opportunities in the residential and small commercial landscape. The acquisition will create a regional full-service solar installation leader servicing residential, commercial, industrial and utility-scale markets, including solar electric vehicle charging. Calling the transaction phase I of its East Coast Residential Strategy, iSun’s Chairman and CEO Jeffrey Peck said, “The Electrification of everything is going to rapidly increase energy demand across all sectors. With this acquisition, we are addressing this opportunity in the residential sector with a partner who has built a scalable residential platform with best-in-class capabilities, industry leading customer acquisition cost of $0.36/Wdc, and most important – who shares our values.”
Osaka Gas & MHI joint venture: Osaka Gas USA Corporation (OGUSA) has entered a joint venture with Mitsubishi Heavy Industries (MHI) through Mitsubishi Heavy Industries America (MHIA) to acquire stake in a 15.7 MW solar project of Oriden LLC. The Bright Future Solar Farm project is expected to enter commercial operations by the end of 2021 and is contracted to sell 100% of its clean energy to Blue Ridge Electric Membership Corporation under a power purchase agreement (PPA).