U.S. renewables developer Lincoln Clean Energy (LCE), a subsidiary of Ørsted, has acquired the development business of Coronal Energy, a developer focused on utility-scale solar and energy storage projects.
The acquisition includes Coronal’s development team, as well as a significant pipeline of U.S. solar and storage projects, including multiple projects that have been awarded long-term power purchase agreements with utility counterparties.
“I am delighted to welcome the Coronal development team to LCE and the wider Ørsted family,” comments Declan Flanagan, CEO of LCE. “This experienced team complements our U.S. development platform, greatly enhances our presence in solar and storage, and brings important new customer relationships through multiple long-term power purchase agreements both signed and in negotiation.”
“Congratulations to Ørsted, LCE and the Coronal development team for establishing what is one of the most dynamic and experienced renewable teams in the industry,” adds Jonathan Jaffrey, founder and CEO of Coronal Energy.