Onward Energy to get 1.2 GW portfolio of US solar assets
- Independent power producer (IPP) Onward Energy has actually become part of a bidding arrangement to get 1,171 MW of running solar assets from life insurance policy business Global Atlantic Financial Group.
The portfolio includes 11 projects throughout eight US states and marks the IPP's biggest renewable financial investment in its history.
With the acquisition of greater than 1.1 GW of solar assets it will certainly bring the portfolio to over 6GW of capacity between 45 solar, wind and also gas projects in 18 states.
Steve Doyon, president at Onward Energy, claimed: "Our team believe that this purchase of excellent quality solar assets is a solid fit with our existing portfolio, consistent with our view of the energy transition as well as corresponding to our growth strategy."
The life insurance business remains to market its financial investments in the solar market after it offered its stake in solar and storage space programmer Origis Energy to Antin Infrastructure Partners, an exclusive equity company, in October 2021.
The purchase is anticipated to shut throughout the third quarter of 2022.
