Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets, announced the sale of two PJM assets, Gaucho Solar and Nestlewood Solar projects, to Octopus Energy Generation, a renewable energy asset management firm.
The two projects collectively will generate 100 MW of renewable energy annually.
The Gaucho Solar project is on 68 acres in Beaver County and Allegheny County, Pennsylvania. It contributes to the University of Pittsburgh’s sustainability and climate action goals, with approximately 55,000 solar panels generating renewable electricity 25 miles from campus.
The Nestlewood Solar project is located on 610 acres in Clermont and Brown County, Ohio, and offsets power for an e-commerce company as a part of a power purchase agreement (PPA). The project provides on-peak power during the high-demand period of midday and late afternoon.
“Vesper Energy is excited to transition ownership of our Nestlewood and Gaucho projects to Octopus Energy Generation,” said Mark Rostafin, Co-CEO of Vesper Energy. “Our partnership exemplifies growing investor confidence in renewable energy developments and supports our organizations’ shared mission to advance a clean, reliable energy infrastructure.”
The company recently announced the Vesper Energy of the Deer Creek Renewable Energy project, a solar and energy storage project located in Tulare County, California. The project was sold to a Fortune 500 energy company.
According to Mercom’s Q1 2024 Solar Funding and M&A Report, almost 10.8 GW of solar projects were acquired in Q1 2024 compared to 11.9 GW in Q1 2023. In a quarter-over-quarter comparison, 13.7 GW of solar projects were acquired in Q4 2023.
Technique Solaire Group, an independent producer of renewable energy, recently announced the acquisition of ready-to-build solar projects in the Netherlands and Spain with a total capacity of 58 MW.
