Advanced Power has sold its 100% interest in the 232 MW DC Oriana Solar project to Sabanci Renewables, a subsidiary of Sabanci Holdings.
With the sale of Oriana Solar, Advanced Power has successfully originated and closed four utility-scale solar and solar+battery storage projects totaling more than 800 MW DC and 240 MWh of battery storage capacity.
The sale, which was led by Marathon Capital LLC, is the second transaction Advanced Power has closed with Sabanci.
“We are excited to continue working with Sabanci and successfully transition Oriana Solar through its final development and into construction,” says Thomas Spang, Advanced Power’s CEO.
Oriana Solar will be co-located with 60 MW/120 MWh of battery storage capacity in Victoria County, Texas. The project serve the load centers in the Gulf Coast region of Texas, including Houston, Corpus Christi and Freeport.
Construction of Oriana Solar is expected to begin in the first quarter of 2024, with commercial operation to start in 2025.
Oriana Solar will sell energy and renewable energy credits into the ERCOT power market.
