Major solar projects change hands in Colorado, California

September 11, 2019
Facebook
Twitter
LinkedIn
Reddit
Email
Source: 8minute

The US renewables business of Japanese oil and gas major Idemitsu Kosan has bought a 100MW solar project in Colorado from GCL New Energy, a subsidiary of China's GCL New Energy Holdings.

Construction of the Pioneer solar project is expected before the close of the year. It is contracted to provide energy to local electric distribution cooperative Intermountain Rural Electric Association through a power purchase agreement (PPA) signed in June.

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

Solar Frontier America's acquisition of the Pioneer solar [roject is the latest in a string of US activity for the company over the past 12 months. This includes the purchase of the 210MW Mustang Two solar project in California, and the inking of a 15-year agreement to supply power from its 56MW Luciana solar project, also in the sunshine state, to utility East Bay Community Energy.

Charles Pimentel, CEO of Solar Frontier Americas’ independent power producer business, said in a release that the latest acquisition was evidence that a “shift is underway with traditional fossil fuel providers to support investments for clean energy that benefit the future of our environment and society.”

Allianz turns to 8minute project for first US solar buy

US solar and storage developer 8minute Solar Energy has sold the equity interests of the under-construction 67MW Lotus Solar farm in central California to investment management firm Allianz Global Investors.

The farm, which is contracted to provide energy to utility Southern California Edison through a 20-year PPA, is Allianz’ first US solar project. Its annual output is expected to exceed 125 million kWh per year.

In news coinciding with the sale, the project bagged US$140 million of debt financing from NYC-headquartered bank CIT Group and German bank NORD LB. The banks are providing a construction loan, letter of credit and term loan facility for the project.

Construction of the farm began in August and is expected to be completed in May 2020. Tennessee-headquartered Signal Energy is contracted to build the site, which will be equipped with NX Horizon solar trackers by NEXTracker and more than a dozen TMEIC central inverters.

US solar prospects amid PPA uptake and a changing policy landscape will take centre stage at Solar Media's Solar & Storage Finance USA, to be held in New York on 29-30 October 2019

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.

Read Next

Premium
October 17, 2025
According to Ronak Maheshwari of CRC-IB, there has been a struggle for US renewable power projects to secure necessary equity .
October 17, 2025
A group of over 20 US states are suing the Trump administration for the cancellation of the US$7 billion Solar For All Scheme.
October 16, 2025
T1 Energy and Nextracker have agreed to use the latter’s steel module frames at the former’s new 5GW module manufacturing facility in Dallas.
October 15, 2025
The average price of a solar PPA signed in North America increased 4% between the second and third quarters of 2025, according to LevelTen.
October 13, 2025
US solar manufacturer T1 Energy has acquired a minority stake in fellow US-based solar cell producer Talon PV.
October 8, 2025
Despite policy headwinds on the federal level, there is optimism for the future of the US solar and storage sector.

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