Independent power producer (IPP) Lydian Energy has acquired a 1.5GW solar PV and battery energy storage system (BESS) portfolio in North America.
Consisting of four late-stage projects, the Atlas North portfolio was acquired from developer Hanwha Renewables and comprises over 1GW of solar PV capacity with 450MW/1,800MWh of BESS.
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The projects are located in the California Independent System Operator (CAISO) grid and will be connected via the Cielo Azul Switchyard and the Ten West Link transmission line, with a 500kV generation-tie transmission line.
According to the IPP, which was launched in 2024 and is backed by renewable energy investment firm Excelsior Energy Capital, the majority of the electricity and capacity from the Atlas North portfolio is contracted with long-term offtake agreements with Californian utilities.
“Atlas North represents Lydian’s largest investment to date. We are excited to build on our momentum as a firm and bring this ambitious project to life,” said Emre Ersenkal, CEO at Lydian Energy. “The Atlas North facilities will bring much needed renewable power to the region.”
This acquisition will further strengthen the company’s portfolio, which includes 18 solar PV and energy storage projects totalling 4.4GW of capacity.
