Sky Capital America, the US subsidiary of Hong Kong-based Sky Solar Holdings, has acquired 22.5MW of developmental stage permits for solar projects in California and Vermont from an unnamed California-based solar developer.
Sky Capital has ambitions to enter into definitive agreements with the same developer for a further 140MW worth of solar permits, primarily in California. The New Jersey-based subsidiary has designs to do so within the third quarter of this year, and also expects to complete the development and construction of these projects within the next 18 to 24 months.
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“Over the last few months, we have substantially expanded our US portolio by acquiring high-quality assets with attractive returns,” said Sanjay Shrestha, president of Sky Capital, in a statement. “This acquisition represents another example of our commitment to our long-term growth strategy as well as our efforts to strengthen our presence in the US market. We look forward to expanding our presence in the Americas region by adding high-quality projects with investment grade offtakers.”