Spanish renewable energy company Acciona Energia acquired Red-Tailed Hawk, a 350MWac/458MWdc solar PV project from Avondale Solar and Solar Plus Development.
The financial terms of the acquisition were not disclosed.
The Red-Tailed Hawk solar project is located near Houston, Texas, and the project will be developed by Avondale Solar’s affiliate, AP Solar Holdings, and Solar Plus Development.
The construction of the Red-Tailed Hawk project starts in the third quarter of 2022, and operations can be expected in 2024.
The project will be constructed with an estimated investment of €407 million ($460 million) and will be Acciona Energia’s largest PV project worldwide.
Acciona Energia plans to strengthen its US presence with the acquisition of the Red-Tailed Hawk project. The company’s Fort Bend solar farm in Texas and the High Point facility in Illinois are currently under construction.
Once these three PV projects are completed, Acciona Energia will have more than 2 GW of solar and wind energy capacity in the US, the company said. In total, the company has a portfolio of 4GW of projects under development.
“We are excited to continue our growth in Texas, where we already have two solar projects under construction and three wind farms,” said Joaquin Castillo, CEO of ACCIONA Energia North America. “Red-Tailed Hawk is a clear demonstration of our commitment to the United States, and it brings us one step closer to our goal to double our installed capacity in the country by 2023.”
According to Mercom’s recently published Q4 2021 solar funding and M&A report, over 68 GW of solar projects were acquired in 2021. More Recently, Washington DC-based Sol Systems, a solar finance & development company, acquired a 540 MW solar portfolio in southeast Illinois from US renewable energy company Arevon Energy.