SB Energy to build five solar plants with 1.7GW capacity in US


SB Energy Global, a subsidiary of Japanese conglomerate holding company SoftBank Group, has agreed to acquire and build five solar plants with 1.7GW capacity, from renewable energy developer Intersect Power.

Subject to closing conditions, the five solar plants will be built, owned and operated by SB Energy. , Construction on the solar plants, which will be located in California and Texas, is expected to begin early 2020.

Previously, SB Energy and Intersect Power have developed the five projects.

SB Energy and Intersect Power have also announced that there are power purchase agreements (PPAs) in place for the five projects to sell not only the renewable energy but also the renewable energy and renewable energy certificates (REC) from the solar plants.

SB Energy CEO Raman Nanda said: “Intersect Power has created significant value by developing 1.7 GW of large solar projects in a short period of time.

“We look forward to starting construction on the projects early next year and providing low-cost solar energy to our commercial partners. With this acquisition, SB Energy will have 7.2 GW of solar and wind projects under long-term contract in the United States and India.”

First of the five solar plants includes the 250MW Aragorn solar plant, located in Culberson County, Texas. Power generated from the solar plant will be sold under a long-term PPA to Austin Energy.

The second plant is 350MW Athos I, located in Riverside County, California. Direct Energy Business will buy the power from the solar plant under a long-term PPA.

The 300MW Athos II is the third project, also located in Riverside County. Power generated from the solar plant and the REC will be bought by an unnamed company.

The 425MW Juno project is the fourth project, which is located in Borden County, Texas. Lower Colorado River Authority (LCRA) and an unnamed company have agreed to buy the power under long-term PPAs.

The fifth project is the 375MW Titan, located in Culberson County, Texas. Power from this project will be sold to an unnamed company under a long-term PPA.

The five solar plants are expected to create more than 3,000 jobs during the construction phase. Once completed, the cumulative output from the solar plants will be enough to power 357,000 American homes, while helping to avoid nearly 2.75 million tonnes of CO2 emissions from entering the atmosphere.

Intersect Power CEO and co-founder Sheldon Kimber said: “When we started development of these projects, we were looking for innovative, reliable partners to work with, and SB Energy has exceeded our expectations.

“Their partnership proves the value generated by Intersect Power’s skilled team and lean project development approach.”


Image: SB Energy to build solar plants in US. Photo: Courtesy of Free-Photos/Pixabay

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