US developer and operator Adapture Renewables has acquired a portfolio of solar projects in the US Midcontinent Independent System Operator (MISO) territory from developer TED Renewables.
Located in the US states of Illinois and Arkansas, the three solar PV plants will have a combined capacity of 450MWdc.
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This marks the company’s first projects in these two states, which are expected to be operational in 2025 and 2026 as they are currently in the pre-notice to proceed stage.
Upon completion, the projects will more than double Adapture Renewables portfolio of operational capacity to nearly 800MWdc.
Covering 15 US states from Louisiana to North Dakota, the MISO territory has seen increased activity of solar projects lately, even in states with low solar activity, including a 135MW PV plant from London-headquartered renewable energy financier Cubico Sustainable Investments that started operations in Mississippi, which had 438MW of installed capacity at the end of Q2 2023, according to trade association Solar Energy Industries Association (SEIA).
Meanwhile in Illinois, a state with 2.3GW of solar capacity installed as of Q3 2023, a new trade body was recently formed called Solar Powers Illinois, with the goal to promote the benefits of solar in the state, which has the potential to add over 7GW of new capacity in the next five years.
Christina Conrad, senior director of M&A at Adapture Renewables, said: “As we continue to grow, expanding into new markets presents an exciting opportunity to serve new communities, meet the need for clean energy, and deliver affordable electricity.”