Avangrid sells stake in 20MW Arizona PV project to Axium

Facebook
Twitter
LinkedIn
Reddit
Email
The 20MW Copper Crossing Solar Project is located in Florence, Arizona, and is comprised of 66,000 PV modules. Image: Flickr / zak zak

Avangrid Renewables has signed off on an agreement with Axium Infrastructure to transfer 50% ownership of both the Copper Crossing Solar Project and Dry Lake II Wind Farm in the coming months. 

Avangrid Renewables developed and currently owns and operates both Arizona renewable-energy projects, with the long-term output of both projects under contract with Salt River Project (SRP).

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The 20MW Copper Crossing Solar Project is located in Florence, Arizona, and is comprised of 66,000 PV modules. It reached commercial operation in 2011. The 65.1MW Dry Lake II Wind Farm reached commercial operation in 2010. 

This transaction is expected to close in the fourth quarter of 2019 and involves total consideration of US$112 million. Transfer of control of Copper Crossing is expected to occur in 2020, while Dry Lake II is expected to change hands in 2019. 

Avangrid Renewables’ president and CEO Laura Beane said: “An experienced asset manager like Axium Infrastructure is a natural partner as we continually work to optimize our renewables assets and pipeline through strategic sales, alliances, or partnerships, and create value and new opportunities for the business. We look forward to expanding this partnership with future development opportunities.”

Axium Infrastructure US president Thierry Vandal added: “Axium is thrilled to be partnering with Avangrid Renewables, a leading renewable energy company in the United States, in acquiring a 50% interest in these quality solar and wind assets in Arizona. We look forward to building on this transaction and growing our partnership in the coming years.”

21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA