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Written by: Leonard Parker | Solar News | 31st March
S&B USA (previously Shikun and Binui America) has signed a definitive agreement to acquire 100% of Brazoria West Solar Project with 260 megawatts (MWdc) (200 MWac) of planned solar energy productivity from Savion, part of Macquarie’s Green Investment Group.
“Shikun and Binui continues to expand its operations and asset base in the U.S.,” stated Allon Raveh, CEO of S&B Concession. “With the continuous penetration of renewable energy in the U.S. market, we are excited to continue to grow our U.S. renewable energy portfolio and believe it will become an increasingly important portion of our entire U.S. activity.”
The construction at Brazoria West Solar Project, located in Brazoria County, 40 miles southwest of Houston, Texas, will start in Q2 2021; the Commercial Operation Date (COD) is expected to be in Q2 2022. The project is expected to have the total output capacity of producing 200 MWac of clean, renewable solar energy—the equivalent to power approximately 37,100 Texas homes.
“It’s exciting to get into the mid-stage of solar energy development and see it through construction and operations,” said Kevin Yaich, Head of S&B USA Energy and former Director of Mergers & Acquisitions at NextEra Energy Resources. “We will continue to build upon our renewable energy portfolio and are actively pursuing other assets at this time.” This is the second acquisition and will be the third renewable asset for S&B USA Energy, after acquiring Beacon II and Beacon V in late December 2020.
Brazoria West Solar Project will supply power to the Houston area and has already secured one commercial and industrial Power Purchase Agreement (PPA) and another PPA with an energy trading company.