Eolus North America (ENA), a subsidiary of Eolus, has acquired a solar plus storage project under development with a planned capacity of 500MW solar PV and 250MW in battery storage in the Western US.
Image: A solar farm. Photo courtesy of Joe Zlomek/Freeimages.com.
Eolus stated that the project is in early development stage and is located in a favorable region for renewable energy development. The project has an interconnection queue position for power delivery in California. Details about the seller from whom the portfolio was acquired have not been disclosed.
Eolus North America Country Manager Hans-Christian Schulze said: “We are excited at the opportunity to develop a utility-scale solar project paired with battery storage that aims to fill the growing demand for low-carbon firm renewables in the U.S. It indicates our commitment to expanding into new technologies and to be responsive to emerging energy market signals.”
Hans-Christian Schulze continued saying: “Energy storage is becoming increasingly important in enabling grid networks to match supply and demand fluctuations of electricity and to increase grid stability. The more variable low-cost power production such as wind and solar, the greater potential for it to be complemented with large-scale energy storage solutions.”
The acquisition is ENA’s first solar plus storage project to be developed in North America. The project is expected to begin commercial operation in 2022 and can generate up to 1.5TWh of sustainable, clean and reliable over which can be supplied to 140,000 US homes every year.
Established in 1990, Eolus Vind is a wind power developer in the Nordics and operates 350MW in wind assets. In 2015, the company entered the US market by establishing Eolus North America.
The company claims to have constructed more than 500 wind turbines, out of the 3400 wind turbines currently operating in Sweden. It plans to expand in the US energy market. Presently it has 700MW of wind assets under its full scope management and expects to reach over 1.2GW over the next few years.