British power generation company ContourGlobal has acquired a 446MWp solar photovoltaic (PV) portfolio in the US, expanding its renewable energy footprint.
The portfolio, acquired from Qcells, includes two solar PV plants in Colorado and Virginia, boosting ContourGlobal’s planned US solar PV and BESS capacity to nearly 1.5GW.
This adds to over 1GW of recently acquired projects in South Carolina and Arizona, currently in late development.
The Colorado assets, totalling 324MWp, are already under construction, while the Virginia project, with a capacity of 122MWp, is slated to begin construction in 2026.
This acquisition extends ContourGlobal’s renewable operations within the Western Electricity Coordinating Council (WECC) and Pennsylvania-New Jersey–Maryland (PJM) interconnection markets.
This expansion offers regional diversification and tapping into areas with increasing demand for electricity, alongside thermal capacity retirements and carbon emission reduction targets.
The Colorado projects will supply electricity to Platte River Power Authority under a long-term power purchase agreement (PPA).
The first phase, a 185MWp plant, is expected to commence operations in the first half of 2025, with a 22-year PPA in place. The second phase will add 139MWp of capacity by 2026.
The Virginia project, expected to start operations in 2027, will benefit from a 20-year PPA with an investment-grade investor-owned utility.
These plants are projected to produce over 845GWh annually, enough to power approximately 80,000 American households each year.
ContourGlobal CEO Antonio Cammisecra said: “This transaction allows us to maintain momentum in our U.S. renewable growth, nearing 1.2GW of solar PV capacity complemented with additional 0.3 GW of BESS capacity, in construction or late development.
“It also meaningfully accelerates the start of our commercial operations to the first half of this year. We are proud of this milestone and delighted that our partnership with Qcells will also enable us to integrate their US-produced solar technology into these acquired projects.”
Qcells will oversee the construction of the projects, which will utilise solar panels manufactured at their facilities in Georgia. Qcells has one of the largest solar panel production capacities in the western hemisphere, which is expected to increase to 8.4GW, the company says.
CRC-IB served as the exclusive buy-side advisor to ContourGlobal, while Marathon Capital was the exclusive financial advisor to Qcells for this deal.
Qcells GES president IP Kimsaid: “We are proud to support ContourGlobal’s US expansion. This transaction showcases Qcells’ differentiated capabilities as a ‘total energy solutions provider’ to bring projects from development into operations. We are excited to explore other opportunities where Qcells’ full suite of capabilities can deliver value to partners like ContourGlobal.”