American utility and power generation company AES has acquired the 2GW Bellefield solar-plus-storage project, a late-stage development asset in California, US from Avantus.
The financial terms of the deal were not disclosed.
Located in Kern County, the permitted Bellefield project will have a total of 1GW solar and up to 1GW of energy storage across two phases.
Each phase of the solar and integrated storage project features 500MW of solar and up to 500MW of four-hour duration battery energy storage.
Phase one of the Bellefield solar-plus-storage project is underpinned by a 15-year power purchase agreement (PPA) to deliver hourly, clean energy to an existing corporate customer of AES.
Besides, AES intends to contract up to an additional 1GW of solar-plus-storage in phase two of the project by the end of this year.
Phase one and two of the Bellefield solar-plus-storage project were developed by Avantus and are expected to be commissioned in 2025 and 2026, respectively.
AES president and CEO Andrés Gluski said: “With the addition of Bellefield phase one, our signed PPA backlog grows to more than 12GW, which represents growth of more than 80% from our current installed renewable generation fleet.
“The vast majority of this backlog is expected to come online over the next two years, consolidating AES’ position as one of the fastest growing renewables companies and a global leader in supplying clean energy to corporate customers.”
AES said that the Bellefield project will contribute to expediting California’s commitment to fulfilling 100% carbon-free energy by 2045.
Furthermore, the solar and integrated storage project is estimated to create tax revenue and an approximately 1,000 union construction roles at peak construction along with supporting indirect jobs in the region.
Avantus founder and CEO Tom Buttgenbach said: “At Avantus, our vision is as bold as the climate crisis we face.
“Bellefield represents our continued success in developing record-breaking clean energy projects that are at the heart of our nation’s climate goals, and that are absolutely necessary in order for America to continue leading in the transition to a clean and sustainable global economy.”
