Vesper Energy Sells Solar and Storage Project in California

Vesper Energy, a developer, owner, and operator of utility-scale renewable energy assets, announced the sale of the Deer Creek Renewable Energy project, a solar and storage project located in Tulare County, California. The project was sold to a Fortune 500 energy company.

The project consists of a generating capacity of up to 50 MW of solar and 50 MW of energy storage capacity. Vesper Energy has two additional projects currently in development in Tulare County, underscoring the organization’s commitment to the area’s clean energy transition and alignment with California’s goal to establish 100% zero-carbon energy planning by 2045.

“We are excited about the sale of the Deer Creek Renewable Energy project, which showcases Vesper Energy’s strong growth and development portfolio in key renewable energy markets like California,” said Mark Rostafin, Co-Chief Executive Officer at Vesper Energy. “We look forward to building on this momentum as we enter a new phase of growth.”

The company claims to have a development pipeline in California that represents approximately 1,750 MW of solar and energy storage projects.

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 QoQ comparison, 13.7 GW of solar projects were acquired in Q4 2023.

Recently, BW Solar, a solar and storage project developer, announced the sale of 12 community solar projects with a total capacity of 76.7 MW in New York to Catalyze, a clean energy transition company that finances, builds, owns, and operates solar and battery storage systems. The portfolio consists of projects in the range of 6~38.2 MW, which are currently under pre-construction, and another group of projects in the range of 6~38.5 MW, which are in the early stage of development and are all located in upstate New York.