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 capacity from Savion, part of Macquarie’s Green Investment Group.
Construction of the project, located in Brazoria County, 40 miles southwest of Houston, Texas, will start in Q2 2021 with commercial operation expected in Q2 2022. The project will supply power to the Houston area and has one commercial and industrial Power Purchase Agreement (PPA) in place and another PPA with an energy trading company.
“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.”
“Savion is pleased to partner with S&B USA to complete the financing and construction of Brazoria West Solar Project. The S&B USA team is deeply committed to the project, and we thank them for their dedicated work with our staff,” said Nick Lincon, Savion president. “We are also grateful to the residents, landowners, and local officials of the Brazoria County community for their support of the project.”
“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.
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Source: Renewable Energy