SSE-backed Renewco acquires 2GW US solar, energy storage pipeline

Facebook
Twitter
LinkedIn
Reddit
Email
Renewco and Beaufort Rosemary are to target solar developments in the Southeast of the US, such as this project in Florida brought forward by utility Duke Energy. Image: Duke Energy.

Scotland-based renewables developer Renewco Power has acquired a 2GW pipeline of US-based solar and energy storage assets from Beaufort Rosemary.

Renewco, which is backed by British utility giant SSE, is to additionally partner with Beaufort Rosemary on further sites in the US, with the duo having set an aim of bringing 3GW of solar and storage sites to shovel-ready status within five years.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The initial pipeline of assets consists of 1.5GW of early-stage utility-scale solar and 500MW of battery storage projects, and both Renewco and Beaufort Rosemary are to concentrate their efforts in bringing forward projects in the Southeast and Midwest of the US.

The acquisition has been supported by funding of £24 million (US$29 million) provided by investment group Corran Capital, which in turn raised the capital from SSE.

The new funding doubles Renewco’s funding commitments nine months after the firm was formed.

Beaufort Rosemary, which has been active since 2018, said it had built a “substantial pipeline” of US solar and energy storage assets by working closely with both landowners and local communities.

“With Renewco’s financial backing and significant development expertise, our projects can now be accelerated and the pipeline expanded,” Beaufort Rosemary founder Kevin Casey added.

The deal is the latest in a string of recent announcements and M&A deals as development stage solar asset pipelines in the US change hands. Recent months have seen sizeable pipeline acquisitions from the likes of Onward Energy, TotalEnergies and Engie North America, amongst others, to bolster their US-facing pipelines.

Amidst industry expectations for consolidation in the US solar market following uncertainty caused by the Department of Commerce’s AD/CVD circumvention investigation, further M&A activity is expected.  

Speaking to PV Tech, Renewco CEO Gavin McCallum said that the main factor for increased M&A in US solar is “positive long-run market fundamentals” and a need for further funding to ensure developments are “properly capitalised,” with Renewco in particular making deals for the longer term.

“We are targeting ready to build assets in 5 years by which time we expect the ongoing dept of commerce investigation to be resolved and there to be more options for developers to buy panels, including US domestic suppliers which we would welcome,” he said.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

October 8, 2025
The NSW Independent Planning Commission has granted planning approval for Potentia Energy's 500MW Tallawang solar-plus-storage project.
October 8, 2025
Despite policy headwinds on the federal level, there is optimism for the future of the US solar and storage sector.
October 8, 2025
Officials from Norway and Egypt have agreed provisional terms for the financing of the Dandara solar park in Egypt, which is being built and operated by Norwegian IPP Scatec.
October 8, 2025
Frontier Energy plans to expand its Waroona Renewable Energy Project into a renewable energy precinct by 2031, targeting up to 1GW solar.
October 7, 2025
OpenSolar has secured US$13.1 million in equity financing from technology investors, including Titanium Ventures, Google and others.
October 7, 2025
Doral Renewables has secured a PPA with an unnamed 'corporate buyer' for its 430MW Cold Creek solar-plus-storage project in Texas.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK