Bitech Technologies Sells 2.43 GW US Solar Projects

Jun 10, 2024 01:01 PM ET
  • Bitech Technologies Corporation shifts focus to battery energy storage systems, selling 2.425 GW of solar projects in the US. A strategic move towards sustainable energy solutions.

Bitech Technologies Corporation has sold approximately 2.425 GW of greenfield solar projects in the US to focus on its core battery energy storage system (BESS) business. The projects were sold to a third-party purchaser and were part of a larger 3.840-GW solar portfolio acquired through the purchase of Emergen Energy LLC.

Emergen Energy LLC is set to receive USD 19.4 million from the sale if certain conditions are met. Bitech made the decision to sell the solar projects in order to allocate resources towards BESS projects, with a current portfolio totaling 1.965 GW capacity.

The sale of the solar projects aligns with Bitech's strategy to prioritize its BESS business and marks a significant shift in the company's focus within the renewable energy sector.

Why did Bitech Technologies Corporation sell its greenfield solar projects in the US?

  • Bitech Technologies Corporation sold its greenfield solar projects in the US to focus on its core battery energy storage system (BESS) business.
  • The projects were sold to a third-party purchaser as part of a larger 3.840-GW solar portfolio acquired through the purchase of Emergen Energy LLC.
  • Emergen Energy LLC is set to receive USD 19.4 million from the sale if certain conditions are met.
  • Bitech made the decision to sell the solar projects in order to allocate resources towards BESS projects, with a current portfolio totaling 1.965 GW capacity.
  • The sale of the solar projects aligns with Bitech's strategy to prioritize its BESS business and marks a significant shift in the company's focus within the renewable energy sector.

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