Canada's Switch offering its fifty percent of 75-MW solar partnership in Alberta
- Canadian independent power producer (IPP) Switch Power Corporation has consented to market its 50% stake in a vehicle that owns 4 solar PV projects with an integrated capacity of 75 MW (AC) in Alberta, Canada.
Switch claimed on Wednesday that it had actually become part of a definitive agreement with Solarnet Investment Canada Ltd, an unit of Germany's Goldbeck Solar Group, to offer its half in PACE Canada LP. Financial terms were not disclosed, with Switch just stating the amount represents a meaningful return on advancement invest.
PACE Canada was developed as an equal partnership in between Switch as well as UK programmer Pathfinder Clean Energy. Both have been establishing the 4 solar projects, called Joffre, Youngstown, Hanna and Caroline, because 2018.
The Joffre as well as Youngstown projects just recently gotten Alberta Utilities Commission power plant approval. Procurement and construction are anticipated to start in spring 2022, Switch said.
Pathfinder will certainly retain its 50% stake in PACE Canada as well as advance the development of the projects with Solarnet moving forward.
"While the four solar projects have eye-catching fundamentals, greenfield project growth is not part of SWITCH's electricity-as-a-service technique. Additionally, existing market problems have provided opportunities for developers to generate income from innovative growth projects," the IPP claimed in its press release.
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