APG, a Netherlands-based pension asset manager, agreed to acquire 49% equity ownership in the $1.2 billion 690 MWAC Gemini Solar + Storage project on behalf of its pension fund client ABP from Quinbrook Infrastructure Partners, an investment manager focused exclusively on the new infrastructure needed for the energy transition, and its portfolio company Primergy Solar.
QatarEnergy, a state-owned petroleum company of Qatar, signed a purchase agreement with Qatar Electricity and Water Company (QEWC) to acquire QEWC’s 49% interest in Siraj Energy, a solar project developer. Siraj Energy has a 60% interest in Siraj (1) which owns and will operate the Al-Kharsaa Solar Photovoltaic (PV) Independent Power Project, Qatar’s first and largest PV project with a total installed capacity of 800 MW.
IBC SOLAR Energy, a division of German photovoltaics specialist IBC Solar AG, sold two solar projects of 120 MW in Poland to Afcon Renewable Energy, a subsidiary of Afcon Holdings. Afcon Renewable Energy will complete the development of the projects up to the readiness to build stage through development agreements signed with local entrepreneurs. The agreement with Afcon underlines IBC SOLAR’s expansion of business activities in Poland. The company has recently founded a new subsidiary in Poland and expanded its local capacities.
Eolus, a renewable energy developer, signed an agreement to sell a 750 MW solar and battery storage project in Arizona, US. The project is Eolus’ third to be sold in the United States. The buyer is a United States-based portfolio company backed by a large publicly traded global private equity investment firm. The project is a mid-stage development asset expected to have an initial aggregate capacity of 750 MWac solar photovoltaic generation and battery storage capacity. Commissioning is currently planned for 2025.
TagEnergy, a company focused on developing, financing, construction, and asset management of wind, solar, and storage projects, acquired the 50 MW Pitkevy battery storage project from ILI Group, a clean energy development company focused on energy storage in the UK. The project is located in Scotland and will connect to the grid in 2024. ILI Group is developing over 4 GW of energy storage projects in the UK, with a project pipeline comprising 2.5 GW of Pumped Storage Hydro and 1.9 GW of Battery Storage.
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