BayWa r.e. sells 47MW North Carolina projects to PSEG Solar

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
This latest 47MW addition to the PSEG portfolio marks 226MW in operation and a further 70MW under construction. Source: BayWa r.e.

BayWa r.e., a subsidiary of Munich-based BayWa, has sold two North Carolina solar facilities totalling 47MW to PSEG Solar for US$74.6 million.

The two projects, known as the PSEG Cork Oak Solar Energy Centre and the PSEG Sunflower Solar Energy Centre, are both under construction with operation scheduled for later this year. They will use Trina Solar modules and SMA inverters.

Power generated from the facilities will be sold to Virginia Electric and Power Co. under a 10-year PPA. BayWa r.e. was the EPC for both porjects and will continue to operate the facilities once online.

“It's a pleasure to work with a top-notch organization like BayWa r.e. on these projects, which will provide North Carolina with more safe, clean and reliable energy,” said Diana Drysdale, president of PSEG Solar Source. “These are important transactions for us, as we continue to expand our solar portfolio across the country.”

The projects are the second and third PSEG Solar has developed in collaboration with the German firm.

“BayWa r.e. is delighted to complete another transaction with PSEG Solar Source. We look forward to growing our relationship with PSEG Solar Source over the coming months and years,” said Jam Attari, CEO of BayWa r.e. Solar Projects.

This latest 47MW addition to the PSEG portfolio marks 226MW in operation and a further 70MW under construction. Most recently, PSEG acquired a 10.5MW PV project from Obsidian Renewables.

Read Next

April 14, 2021
Meyer Burger is on track to start shipments of its first heterojunction (HJ) solar modules made in Germany to distributors in July.
April 14, 2021
Solar industry players should collaborate with governments and regulators to overcome floating PV permitting and bankability issues and unlock the potential of the technology in Europe, a panel has concluded.
April 8, 2021
Green hydrogen may become cheaper than natural gas by 2050, falling by 85% over the next 30 years, but declining costs in the solar sector will be crucial for the nascent technology's growth.
April 7, 2021
A round-up of the latest news from the US and Canada, including updates from distributor and developer BayWa r.e., construction group iSun and tracker specialist Arctech.
April 1, 2021
As the solar industry has matured and sustainable investment has moved up on the global market’s list of priorities, power purchase agreements (PPAs) have become a mutually beneficial arrangement between developers and the corporate world. But SMEs have remained difficult to cater for in comparison to larger, more bankable offtakers or utilities with permanent facilities. Edith Hancock explores how this might be changing.
March 31, 2021
Renewables investor Cubico Sustainable Investments has completed its acquisition of a European 272MW solar power platform called Grupo T-Solar from I Squared Capital.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET
Solar Media Events
May 11, 2021