Palladium Energy, a renewable energy project developer, announced the sale of a 364 MW solar plus 280 MWh storage portfolio to Exus Renewables North America (Exus) through its joint venture with Arava Power, a utility-scale renewable energy project developer.
Exus, an independent developer and operator of utility-scale renewable energy projects, will continue the portfolio’s development, construction, and asset management. KeyBanc Capital Markets served as the exclusive financial advisor for the transaction.
“We are proud of the excellent projects we developed with our partners at Palladium and their successful sale to a top-tier shop like Exus,” said Arava CEO Ilan Zidkony. “Developing and selling these projects marks another milestone in Arava’s expansion into the US renewables space, establishing our commitment and capabilities in the market.”
The portfolio includes three mid-stage projects situated in PJM and MISO. Palladium and Arava initiated the projects, conducted site acquisition, executed diligence and early-stage development, and progressed the projects in their respective interconnection queues.
Palladium is a utility-scale power infrastructure developer with a project pipeline in PJM, MISO, SERC, ERCOT, and WECC in the U.S.
“We are thrilled to announce the sale of these projects to a leading asset manager like Exus. The transaction demonstrates the quality of the projects and the Palladium execution team. We are also thankful to our partner, Arava, for enabling the development and sale of these projects,” said Danny Weidlich, CEO of Palladium.
According to Mercom’s recently released Q1 2025 Solar Funding and M&A report, about 13.6 GW of solar projects were acquired in Q1 2025 compared to 10.8 GW in Q1 2024.
In January, ContourGlobal, a renewable energy power generation company, announced the acquisition of an advanced-stage solar-plus-storage project with a total capacity of 888 MW. The project will be developed in two phases, featuring 567 MWp of solar capacity and 321 MW/1.3 GWh of battery energy storage. Once operational, the project will provide clean electricity to customers in WECC-Southwest, Arizona, and CAISO, California.
