Internationally renowned renewable energy company to support industry acceleration across US, partnering up on energy transition.
Solariant, a Pasadena based renewable energy investment and development company, and Daiwa Energy and Infrastructure, a wholly owned subsidiary of Daiwa Securities Group, have confirmed international renewables company Greenvolt entered into an agreement to acquire their 125 MW Alamogordo Solar and 50 MW Storage Project.
Solariant will remain involved in the project to see it through development and construction.
Greenvolt has acquired the rights for the project which, with continued support from Solariant and DEI, will be constructed in Otero County, New Mexico.
The Project will provide a locally generated electricity supply from renewable energy resources and meet expectations by the New Mexico state government that targets 100% zero-carbon resources by 2045 – as directed in the 2019 Energy Transition Act.
It is expected to produce over 300,000 MWhs in Year 1 and power the equivalent of over 20,000 New Mexico homes. The project is scheduled to start construction in 2024 and begin commercial operation in 2025.
Through this pioneering hybrid solution in this market, the energy obtained via solar irradiation will be optimized by the implementation of battery storage.
This project and optimization will allow for the energy generated during peak times to be stored and efficiently offloaded to the grid during low-generation periods.
Within the scope of their US “niche” strategy, Greenvolt will operate in the New Mexico market where they see great opportunities with quality off-takers.
In cooperation with Solariant, the companies will work together with green-ready communities and partners on accelerating their renewable implementation.
“Greenvolt is delighted to partner with Solariant on this important project in New Mexico,” said Weronika Nowak, Deputy Country Manager for Greenvolt Power US.
“Greenvolt is committed to partnering with communities and industry leaders to accelerate energy transition and our goal is to continue to expand into additional markets across the country.”
Greenvolt and Solariant will cooperate and support the Project based on the capabilities of each company, including development, power marketing, design and engineering, equipment procurement, financing and construction management to reach commercial operation.
Solariant and Greenvolt will endeavor to build and maintain relationships with stakeholders including the community and local governments.
Daniel Kim, Managing Director of Solariant Capital said: “We are thrilled to have the Greenvolt Power team’s support as we finalize development and bring the project to commercial operation. This project will deliver clean, locally generated electricity and economic benefits to the State of New Mexico.”
