UK-based sustainable infrastructure investor Atlantica and Spanish renewable energy company Greening plan to build a 1GW solar-plus-storage portfolio in the US.
The companies have created a joint venture to manage the portfolio; Greening’s US subsidiary Greening USA will advance the projects to the ready-to-build stage, while Atlantica will provide financial support for the projects. Once the projects have reached this phase, they will decide whether to keep the assets, and distribute them amongst themselves, or sell them to a third party. They also noted that they would “collaborate to further identify” new renewable power and storage projects that could be added to the joint venture in the coming years.
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While the companies did not specify how the 1GW of capacity would be split between solar PV and battery energy storage system (BESS) projects, or where they would be located, they noted that the projects would be connected to the Midcontinent Independent System Operator South (MISO South) and Southwest Power Pool (SPP) grids in the central US. Greening also noted that the portfolio would consist of solar projects co-located with storage facilities, and standalone storage projects.
The news follows Atlantica’s acquisition of a 1.1GW solar and wind portfolio, currently under development in the MISO and SPP grids, completed in December last year. At the time, the company’s total pipeline consisted of 2GW of solar and wind projects, plus 8.5GWh of storage, to which the 1GW solar-plus-storage portfolio will be added.
A number of developers advanced projects in the MISO grid last year, including DESRI and Meta signing a PPA in December and Recurrent Energy commissioning a project in October.
PV Tech publisher Solar Media will be organising the fourth edition of Large Scale Solar USA in Dallas, Texas 29-30 April. After a record year for solar PV additions in the US, the event will dive into the ongoing uncertainties on tariffs, tax credits and trade policies as more domestic manufacturing becomes operational. Other challenges, such as the interconnection queues and permitting, will also be covered in Dallas. More information, including how to attend, can be read here.
