US ROUND-UP: Cubico makes maiden MISO deal, US Solar Fund completes solar build-out

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The Arlington Valley Solar Energy II project (pictured) will transfer to Capital Dynamics. Image: LS Power.

A round-up of the latest news from the US solar market, including developments from Cubico and US Solar Fund.

 

Cubico acquires 270MW US portfolio from RES

24 November 2020: Renewables investor Cubico Sustainable Investments has completed the acquisition of two solar projects from developer RES, totalling 270MW of generation capacity.

The projects – Delta’s Edge and Crossett – are both underpinned by long-term power purchase agreements with regional cooperative utilities, and will be constructed by RES. They are slated to begin commercial operations in 2022, with financial close expected in Q1 2021.

The projects represent Cubico’s first acquisition within the Midcontinent Independent System Operator (MISO) region.

“We are happy to support these local communities through economic development, by investing in greenfield clean energy projects. The acquisition of Delta’s Edge and Crossett is complementary to our existing solar investments across the southeast US and Texas,” Lance Jordan, senior VP of origination and execution at Cubico, said.

 

US Solar Fund energises Utah solar project, completing fund’s build-out program

23 November 2020: London-based US Solar Fund has celebrated the completion of its solar build-out programme by completing its 128MWdc Milford Plant project in Utah.

The project, which came onstream last week, was completed on time and under-budget, US Solar Fund said, confirming that now all 41 of its portfolio projects was operational and generating revenue.

The Milford Plant saved construction and development costs of around US$4 million, the fund said, while the earlier-than-expect commercial operations date will provide additional revenue of around US$1 million.

“I am delighted that we have reached the point where all the company’s solar plants are in operation and generating power. This puts us firmly on track to pay and cash cover the full target dividend of 5.5 cents per share in 2021. We look forward to growing the company and delivering on the investment mandate,” Gill Nott, chair at US Solar Fund, said.

 

Capital Dynamics completes LS Power project acquisition

19 November 2020: Asset management firm Capital Dynamics has completed the acquisition of three utility-scale solar projects from developer LS Power.

The deal, previously disclosed in September, will see Capital Dynamics acquire a portfolio of projects with a total combined generation capacity of 316MWdc in states including California, Arizona and Delaware.

The portfolio includes:

  • 100% ownership of the Centinela Solar Energy project, a 252MWdc array in California
  • 100% ownership of the Dover Sun Park, a 11MWdc project in Delaware
  • A 30% stake in Arlington Valley Solar Energy II, a 175MWdc array in Arizona.

“With the addition of these high-quality assets, our team further cements our position as the largest private owner of solar assets in the United States, with a fleet exceeding 3.5 gigawatts (GWdc),” Tim Short, managing director of clean energy infrastructure at Capital Dynamics, said.  

Read Next

November 30, 2021
‘Solar Module Super League’ (SMSL) member Canadian Solar has raised US$150 million through a share offering, with proceeds set to help the manufacturer expand its energy storage arm.
November 25, 2021
Assurance and risk management provider DNV is acquiring cyber security firm Applied Risk as it looks to build a security practice focused on defending industrial assets against emergent cyber threats.
November 24, 2021
The US International Trade Commission has recommended that the Section 201 safeguard tariffs on solar cells and modules be extended.
November 23, 2021
Renewables developers and O&M provider RES has appointed two new chief executives to lead on its growth plans.
November 22, 2021
With operational solar assets in certain markets advancing in years, the question about when and under what circumstances to repower them is becoming increasingly common. Alice Grundy looks at the key drivers behind repowering PV.
November 22, 2021
German energy company RWE is selling solar EPC and O&M service provider Belectric to Czech utility CEZ, Germany's federal competition authority has revealed.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
December 1, 2021
Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal

Cyber Monday Flash Sale – 50% off our subscriptions

24 hours only