US energy company Enfinity Global has acquired 546MW of solar assets under development in the US state of Colorado from Australia-headquartered solar developer CS Energy.
The portfolio consists of three projects, at which Enfinity expects to begin construction “in the next two years”. The company did not specify when it expects to commission the projects or further details of the deal, but its leadership is optimistic about the growth of its US portfolio.
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“We continue to acquire top quality portfolios in some of the most promising markets in the US to add and complement our 6GW proprietary pipeline of projects”, said Enfinity’s Americas CEO Ricardo Díaz.
“Our long-term ownership business model allows us to partner with relevant investors, stakeholders, and customers, aligning capabilities that create a zero-carbon future and benefit the communities in which we participate. We will continue committed to develop additional projects in Colorado.”
The deal is the latest capacity addition to Enfinity’s growing portfolio, which now has over 17GW of renewable energy assets. Just 1GW of this portfolio is currently in operation, so the company will be optimistic about its future as the global energy sector moves away from fossil fuels.
This is also the latest development in Colorado’s rapidly-growing solar sector. The American Clean Power Association expects the state to add 4GW of new solar by 2030, with 1.96GW of new capacity already under development, while the Solar Energy Industries Association expects Colorado to add the 11th-most new capacity among the 50 states over the next five years.
While some of the interest in the Coloradan solar sector stems from increased demand for US-based solar production introduced by the Inflation Reduction Act, some of this growth is based on the state’s own policies.
The state government has set a target of producing all of its electricity from renewable sources by 2040, up from 37% today, and the Colorado Residential Energy Upgrade loan programme has committed over US$2.7 million towards residential solar installations alone.