Greenalia Acquires 502 MW of Solar Projects in Texas

Spain-based independent power producer Greenalia acquired three utility-scale solar projects totaling 502 MW in Texas.

The projects are the 265 MW Donegal Solar, the 119 MW Leitrim Solar, and the 118 MW Roscommon Solar. All three are in the advanced stage of development, with Greenalia planning to reach commercial operations by early 2025.

The acquisition is part of the company’s broadening strategy in the United States, which it entered two years ago.

“We are delighted to acquire these high-quality solar projects. This acquisition is an important step in consolidating our strategic plan, which has the United States as a key focus”, said Greenalia CEO Manuel Garcia.

Earlier this year, the company added four new solar installations− Wensowitch, Ratcliff, Reis, and Wittig, totaling 451MW to its portfolio. The latest acquisition increased Greenalia’s solar pipeline in the U.S. to nearly 1.7 GW.

In 2021, Greenalia acquired a firm with a ready-to-build solar photovoltaic portfolio of 695 MW plus 385 MW battery storage in Texas.

Other solar projects exchanged hands in Texas recently. Canadian Solar’s wholly-owned subsidiary, Recurrent Energy, completed the sale of the Maplewood 1 and Maplewood 2 solar projects to a U.S. annuity and life insurance company. Both projects are located in Pecos County, Texas, near the towns of Fort Stockton and McCamey, and have a combined capacity of 328 MW (250 MW (AC)).

French oil and gas major Total acquired a development pipeline of 2.2 GW of solar projects, and 600 MW of battery storage assets, all located in Texas. The projects are bought from SunChase Power, a renewable energy company focused on developing utility-scale energy projects, and MAP RE/ES, a private energy investment firm.

According to Mercom’s 9M and Q3 Solar Funding and M&A Report, in the first nine months of 2022, there were 207 project acquisitions totaling 52.1 GW, compared to 200 project acquisitions totaling 55.5 GW in the same period of last year.