sPower, an independent renewable energy producer (IPP), has acquired nine solar projects in New York from National Grid Renewables. The portfolio includes projects in Franklin, Jefferson, Chautauqua, Lewis and other counties in New York State. This portfolio is estimated to have a DC capacity of 1 GW.
Six of the nine projects are currently at the early stage of Article 10, when the application process will be approved. The projects are expected to go live between December 2022 and December 2023.
The news of this National Grid Renewables portfolio acquisition comes as sPower merges with The AES Corp.’s US clean energy development business. announces. sPower has been jointly owned by AES and Alberta Investment Management Corp. since 2017. (AIMco). The AES-sPower transaction is expected to close in the next few months after the customary closing conditions have been successfully completed. AES Clean Energy also includes AES Distributed Energy and a wind development team that was previously part of Advanced Energy. The merged business will be one of the most important platforms for renewable growth in the country. In New York, the company will have a combined operations portfolio of nearly 150 MW DC and a development portfolio of more than 1 GW.
“Our merged platform for renewable energy will bring together the differentiated capabilities of sPower and AES in the fields of solar, wind and energy storage,” said Leo Moreno, President of AES Clean Energy. “With this platform, we want to accelerate the transition to a carbon-free future, a vision we share with New York. We are very excited to continue expanding in New York and look forward to continuing to build a platform uniquely positioned to help the state achieve its goal of 70% renewable energy by 2030. “
The more than 1 GW acquired portfolio will bring significant benefits to the region, including economic benefits for local communities, counties and the state in the form of clean, renewable energy generation and economic development through construction, operation and maintenance, expenses for supplies and materials , Lease payments to participating landowners and tax payments to local communities. sPower also intends to employ local union workers whenever possible throughout the development of the portfolio.
Photo: Landing page of National Grid Renewables