Solar Frontier Americas has acquired 100MW Pioneer solar project located in Colorado from GCL New Energy, a unit of Chinese power producer GCL New Energy Holdings for an undisclosed price.
The Pioneer Solar project, which is to be built east of Denver, Colorado, in Adams County, is currently in the final development stages.
Construction on the solar project is expected to commence later this year.
GCL New Energy executive president Frank Zhu said: “This project transaction demonstrates Solar Frontier Americas prowess in the acquisition of quality projects. GCL leverages its global knowledge to deliver the highest caliber of quality in our solar project development on our path to becoming one of the most respected global energy leaders in the world.”
The solar project has a power purchase agreement (PPA) with electric distribution cooperative Intermountain Rural Electric Association (IREA), which serves more than 160,000 customers in 11 Colorado counties.
Solar Frontier Americas’ IPP business unit CEO Charles Pimentel said: “A shift is underway with traditional fossil fuel providers to support investments for clean energy that benefit the future of our environment and society. This acquisition exemplifies Solar Frontier Americas, and our parent company, Idemitsu’s commitment to furthering the sustainability of our society through the use of clean renewable power.”
Recent acquisitions of Solar Frontier
Solar Frontier, the US-based renewable energy subsidiary of Idemitsu Kosan Company, had acquired the 210MW Mustang Two solar project located in Kings County, California. The company also signed a 56 MW PPA with California-based Community Choice Aggregator (CCA).
The Mustang Two solar project was bought from Canadian Solar’s wholly-owned subsidiary Recurrent Energy.
Solar Frontier will finance and manage the construction of the project, which is expected to enter into commercial operations in 2020.
With offices in California and Nevada, the company is involved in the development of a pipeline of more than 1GW of utility-scale projects.
