Danish renewables developer European Power (EE) has accomplished the sale of its largest photo voltaic farm within the US thus far.
Copenhagen-based European Power stated it offered the photo voltaic farm to an undisclosed purchaser in order that it could develop, ship, and recycle capital into new US renewable power tasks. EE develops photo voltaic, onshore and offshore wind, power-to-X, and battery storage tasks. It arrived within the US in 2021 and has an workplace in Austin.
Lorena Ciciriello, chief govt of EE North America, stated, “Our objective within the US is to create a broad portfolio of renewable power options, and this sale is a vital step in realizing our technique.”
It’s the Danish developer’s “second main divestment” within the US since European Power entered the photo voltaic market in 2021, bringing the entire capability divested to 800 MW. The corporate offered its first US photo voltaic farm, Yellow Viking in Texas, in 2023.
When absolutely operational, the nonetheless unnamed photo voltaic farm – EE doesn’t say the place within the US it’s situated, both – is predicted to supply round 1,389 GWh of electrical energy yearly, equal to the annual consumption of 128,000 US households.
“We stay dedicated to creating renewable power tasks within the USA that drive native progress and create jobs,” stated Thorvald Spanggaard, EVP and head of mission improvement at European Power.
Electrek’s Take
This announcement, which is mild on particulars, piqued my curiosity. It’s a big photo voltaic farm offered by a big European-HQ’ed world firm that claims it’s dedicated to creating extra renewables within the US, which is at the moment being run by a authorities that doesn’t think about photo voltaic or wind to be outlined as power. What’s the inducement for EE to do this? It positive isn’t federal tax incentives.
What’s coming down the pipeline for renewable tasks within the US? Everyone seems to be speculating, however nobody is aware of – not even Republicans, regardless of the dangers of renewable mission collapses being highest in their very own states. I’ll make an informed guess and say that EE will sit on its sale proceeds and look ahead to readability, which they could by no means get. That’s as a result of the Trump administration memos and govt orders are intentionally designed to be imprecise. Chaos is a type of management.
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