Diode Ventures, a Black & Veatch company that develops global infrastructure projects, says ACCIONA, a global group that develops and manages sustainable infrastructure solutions, has acquired 100% of a 240 MW AC/315 MW DC photovoltaic (PV) project in development in Fort Bend County, Texas.
With the transaction, ACCIONA extends its footprint in U.S. solar generation as demand for renewable energy grows due to increasing efforts to decarbonize the electric sector. Solar and wind projects owned and operated by ACCIONA generate more than 1,000 MW of power in the U.S. and Canada – with more in development.
“With solar power continuing to surge in demand as a cleaner, greener provider of electricity, we’re pleased to see this ambitious project advance closer to becoming a reality,” says Brad Hardin, president of Diode Ventures. “This is another important step toward sustainability and lowering our carbon footprint in an evolving electric marketplace, and we’re proud to be part of it.”
With three wind power projects in Cameron County, Texas, the Fort Bend project represents ACCIONA’s fourth investment in the state – and its first solar PV project in Texas. When operational, Fort Bend will give the company more than 750 MW of renewable capacity in Texas. ACCIONA has committed to delivering 1,600 MW of new solar across the U.S. by 2023.
The project, expected to create about 300 jobs during the construction phase, will be within the territory of the Electric Reliability Council of Texas (ERCOT), a membership-based nonprofit corporation that manages electricity flow to more than 26 million Texas customers.
Diode Ventures, which offers clients reliable, turnkey asset-development solutions for large-scale infrastructure programs, has teamed with Enfinite Capital to develop the Fort Bend Solar project to a full notice to proceed (FNTP) state. As an investment and asset management firm, Enfinite Capital specializes in renewable energy, infrastructure and real estate assets.
Diode bought the Fort Bend Solar project from Lendlease in 2018.
Photo: Diode Ventures’ landing page