The Helios joint venture of Sol Systems and Nationwide Insurance has executed a framework agreement to purchase a 135 MW portfolio of North Carolina solar projects from Cypress Creek Renewables.
Launched in February 2018, Helios invests in utility-scale solar assets throughout the U.S., focused on late-stage developments.
“Working with like-minded organizations such as Sol Systems enables Cypress Creek to meet our goals of providing low-cost, sustainable energy to the grid,” comments Matthew McGovern, CEO of Cypress Creek Renewables.
“Helios uniquely provides developers with capital as part of a broader portfolio acquisition,” says Dan Yonkin, vice president of fund and asset management at Sol Systems and manager of Helios. “What sets Helios apart is that it is one of the few solar infrastructure platforms with significant in-house development, engineering, construction and trading expertise, which the team leverages to make compelling, risk-adjusted investments alongside our partners.”
The Helios team notes it continues to seek portfolios for acquisition throughout the U.S.