SB Energy Global Holdings Ltd. (SB Energy), a subsidiary of SoftBank Group Corp., and Intersect Power, LLC (Intersect Power), a utility-scale renewable energy developer, announced today that SB Energy will acquire a portfolio of five U.S. solar power plants with a combined capacity of more than 1.7 gigawatts (GW) from Intersect Power.

Subject to satisfying certain closing conditions, SB Energy will build, own and operate the five solar power plants located in California and Texas, and expects to begin construction in early 2020. SB Energy and Intersect Power previously partnered to develop these projects.

The five projects are listed below. SB Energy and Intersect Power also announced that the five projects have entered into contracts to sell the renewable energy and renewable energy certificates (REC) generated to the following customers:

• Aragorn, 250 MWDC in Culberson County, Texas: Austin Energy long-term power purchase agreement (PPA).

• Athos I, 350 MWDC in Riverside County, California: Direct Energy Business long term power purchase agreement.

• Athos II, 300 MWDC in Riverside County, California: one unnamed company long-term REC and energy agreements.

• Juno, 425 MWDC in Borden County, Texas: Lower Colorado River Authority (LCRA) and one unnamed company long-term PPAs.

• Titan, 375 MWDC in Culberson County, Texas: one unnamed company long-term PPA.

Tags:
Texas   Solar   M&A   SB Energy  

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