SB Energy to buy 1.7-GW PPA-backed solar project portfolio in US

Solar module. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.

SB Energy Global Holdings Ltd announced on Thursday it has agreed to acquire a portfolio of US solar projects with a combined capacity exceeding 1.7 GW and newly signed long-term power purchase agreements (PPAs).

SB Energy, which is a unit of Japanese conglomerate SoftBank Group Corp (TYO:9984), co-developed the five projects in this portfolio with Intersect Power LLC -- the vendor in the agreed transaction.

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The table below gives more details about the projects within the portfolio and the contracts that are in place.

Project Name	Capacity (in DC)	Location	Off-taker Name	Type of Contract
Aragorn	250 MW	Culberson Country, Texas	Austin Energy	PPA
Athos I	350 MW	Riverside County, California	Direct Energy Business	PPA
Athos II	300 MW	Riverside County, California	One unnamed company	Long-term REC and energy agreements
Juno	425 MW	Borden County, Texas	Lower Colorado River Authority (LCRA) and one unnamed company	PPAs
Titan	375 MW	Culberson County, Texas	One unnamed company	PPA

SB Energy said it will build, own and operate the five solar power facilities, with plans to start construction work early next year.

“With this acquisition, SB Energy will have 7.2 GW of solar and wind projects under long-term contract in the United States and India,” said Raman Nanda, CEO of SB Energy.

Together, the five US plants will be able to generate enough electricity per year to meet the annual consumption of about 357,000 homes. Their construction will create more than 3,000 jobs, SB Energy noted.