Aggreko’s Energy Transition Solutions (Aggreko ETS) has acquired a portfolio of nine New York community solar projects.
The installations are set to total approximately 59 MW of generating capacity when construction is complete, says the company. Along with the acquisition’s closing, Aggreko ETS has connected the first of the nine projects to the grid, a 5.9 MW project in the town of Vernon.
Aggreko ETS is now overseeing the construction of the community solar projects to ensure they reach commercialization and grid connectivity within the next year. The opportunity to acquire the projects on a bilateral basis was made possible through Aggreko ETS’s existing relationships with the seller, engineering, procurement and construction provider, as well as its financing parties.
“We’re thrilled to complete this important transaction, which reinforces Aggreko’s capabilities as an experienced renewable energy developer, owner, and operator that can deftly structure and execute complicated asset acquisitions to scale its business,” says Prashanth Prakash, Aggreko ETS’s CCO.
“The acquisition of these projects strategically supports the growth of Aggreko ETS’ community solar segment, which includes a complementary portfolio of assets under development in New York and several other states,” adds Jerry Polacek, Aggreko ETS president.