Avantus, a solar and storage project developer, announced the sale of the Catclaw solar and storage project to D. E. Shaw Renewable Investments (DESRI). The project features 225 MWac solar and 250 MW/1,000 MWh storage capacity in Buckeye, Arizona, in Maricopa County, and is expected to become commercially operational in 2026. Arizona Public Service has signed a long-term power purchase agreement for the project.
Avantus was responsible for the initial greenfield development, including interconnection, site acquisition, permitting, and procuring select equipment, including batteries. Foley & Lardner acted as legal counsel for Avantus for the transaction.
This transaction marks Avantus’s fourth project sold to DESRI. The financial details of the transaction were not disclosed.
“DESRI is pleased to continue our partnership with Avantus, a top U.S. developer of utility-scale solar and solar-plus-storage projects,” said Robert Schoenherr, Chief Strategy Officer of DESRI. “Projects like Catclaw underscore our commitment to supporting new clean energy investment nationwide. We are proud to add Catclaw to our current portfolio of Arizona projects and to count APS as a new customer.”
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, 166 project acquisitions totaling 28.3 GW were transacted in 9M 2024 compared to the same number of project acquisitions totaling 31.6 GW in 9M 2023.
Last month, Redeux Energy, a utility-scale solar and storage project developer, announced the sale of a hybrid solar and energy storage project to Scout Clean Energy, a renewable energy project developer. The project includes a 200 MWdc solar and 40 MW/160 MWh, four-hour battery energy storage project. Marathon Capital advised Redeux Energy on the sale. The financial details of the transaction are not disclosed.
