The clean energy firm RWE acquired 500 Megawatts (MW) of solar and energy storage development projects from Galehead Development LLC. With the acquisition of three projects, the energy firm seeks to expand its footprint in the United States with projects located in three states.
The projects acquired include two development-stage schemes around PacifiCorp’s operating territory in the Pacific Northwest and a mid-stage development asset based in northeastern New York.
Among the acquired projects, the 300 MW Cedar Ridge will be installed in Idaho’s Blaine County, paired with 150 MW/600 MWh of battery storage capacity. In Washington County, New York, the Champlain project will introduce 100 MW of solar power to address the increasing electricity demand in the NYISO market.
Additionally, Marion County, Oregon, will see the installation of a standalone battery energy storage system (BESS) with a capacity of 199 MW/796 MWh.
Also read: PAG raises $550 million for renewable energy fund
According to a press release by Galehead, these acquisitions will help RWE expand into the Pacific Northwest and strengthen its foothold in New York.
The press release also included officials from Galehead commenting on the acquisition such as the Chief Revenue Officer, John Clifford.
Mr Clifford commented, “This transaction is a great validation of the hard work by our team to understand the long-term signals of durable markets, navigate a complex greenfield siting environment and interconnection tariff, and collaborate with the world’s leading Energy Transition investors.”
Currently, the energy firm has 36W of wind, solar and battery storage projects in the developmental process in the United States. The firm is eyeing to expand its renewables projects to upgrade it from 9 GW to over 19 GW by 2030.