February 28 (Renewables Now) – Spanish renewable vitality producer Grenergy Renovables SL (BME:GRE) at this time introduced the acquisition of a 40% stake in US photo voltaic undertaking developer Sofos Harbert Renewable Vitality with an choice to take full management of the corporate after three years.
The transaction marks Grenergy’s entry into the US renewable vitality market and offers it with entry to Sofos Harbert’s photo voltaic pipeline of 1.9 GW together with 600 MWh of vitality storage tasks below improvement.
Birmingham, Alabama-based Sofos Harbert has photo voltaic schemes below improvement in three totally different electrical energy markets within the US – the Southeast, PJM and MISO. Its group has efficiently developed and hooked to the grid over 560 MW for third events, the announcement says. The agency’s main companion is the primary shareholder of development firm BL Harbert Worldwide, native businessman Billy Harbert.
Grenergy famous that it has now established presence in three distinct areas, specifically Europe, Latin America and the US.
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