Ørsted Acquires 227 MW Under Construction Solar Plant in the US

• Ørsted is broadening its solar footprint with the procurement of the 227 MW a/c unfinished Muscle Shoals solar project found in Alabama, US.

Worldwide offshore wind and also eco-friendly significant Ørsted has announced that it is expanding its solar footprint with the purchase of the 227 MW a/c under construction Muscle Shoals solar project located in Colbert County, Alabama, in the United States. Simultaneous to the acquisition, the firm has actually entered into a tax obligation equity funding dedication with Wells Fargo.

The project will certainly be Ørsted's 2nd solar project in the United States, following the choice in November 2019 to begin building of the Permian Energy Center solar plus storage project in Texas. Complying with the purchase of Muscle Shoals, Ørsted will certainly have 2 solar projects totaling 647 MW air conditioning of generation capability under construction across the United States together with 40 MW air conditioning of storage space capability.

The brand-new project is anticipated to come online in the 3rd quarter of 2021. The components for the project will be supplied by First Solar.

The acquisition of the project, which is totally gotten under a long-term power purchase contract with the Tennessee Value Authority (TVA), marks the first project in the southeast US, a location in which we have a further pipe of projects in development.

Vishal Kapadia, Senior Vice President & CFO Onshore, stated "the purchase of Muscle Shoals proceeds the growth of our solar profile and also further branches out the geographical impact of our property base by developing a footing in the swiftly expanding Southeast solar market. As soon as total, Muscle Shoals will certainly provide premium acquired earnings that will certainly supply Ørsted an eye-catching incremental source of secure earnings."

Just recently, we had reported that the company had actually completed the 230 MW Plum Creek wind farm in Nebraska's Wayne County. The project contains 82 wind generators and also stands for Ørsted's initial functional project in Nebraska, additional adding to the local variety of the profile. Also among global difficulties, the project was finished on time as well as brings Ørsted's operational onshore capacity to 1.6 GW.

Neil O'Donovan, Senior Vice President and COO of Onshore at Ørsted had actually said "thanks to our Plum Creek team and also our committed partners for their emphasis and also decision in providing the project on schedule in spite of the really tough conditions we deal with today."