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.
The hybrid project will interconnect to a MISO transmission switchyard adjacent to an operating 400 MW DB Wilson coal-fired power plant in Western Kentucky.
Marathon Capital advised Redeux Energy on the sale. The financial details of the transaction are not disclosed.
In June, Redeux Energy Partners announced the sale of a 450 MW solar project portfolio to Pine Gate Renewables, a solar project developer. The portfolio comprises three projects in the Midcontinent Independent System Operator (MISO) South energy market.
The company currently has a project pipeline of approximately 7 GW of solar and 7 GWh of energy storage capacity spanning the ERCOT, MISO, SERC, and WECC energy markets and plans to bring another project portfolio to market in Q1 2025.
“Scout is excited to make this excellent addition to our growing development pipeline,” said Michael Rucker, Chief Executive Officer and Founder at Scout. “Redeux Energy has thoughtfully developed this site to date, and we are looking forward to transforming this great foundation into a high-performing solar and battery storage project that will bring significant benefits to Ohio County.”
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.
Earlier this week, CleanChoice Energy, a clean energy provider, announced the acquisition of a 29.42 MW solar project in Kylertown, Pennsylvania. The company acquired the project from Prospect14, which led the siting and greenfield development.
