"One of the largest renewable energy owners in the (United States)" has announced it will spend $353 million to take complete ownership of seven utility-scale solar farms located in Utah.

According to a company news release, Clearway Energy (NYSE: CWEN, CWEN.A) plans to spend over $350 million to acquire the 50% of the Utah Solar Portfolio it does not currently own.

Clearway's Utah Solar Portfolio is comprised of seven separate solar farms that, in combination, represent 530 MegaWatts (MW) of energy-producing capacity for the Princeton, New Jersey-based company.

The seven "solar farms" in question are

  1. Enterprise Solar (near Logan, Utah);
  2. Escalante Solar I (near Price, Utah);
  3. Escalante Solar II (near Delta, Utah);
  4. Escalante Solar III (near Milford, Utah);
  5. Granite Mountain W (near Iron Springs, Utah);
  6. Granite Mountain E (near Iron Springs); and
  7. Iron Springs (near Iron Springs).
Workers with solutions of all-inorganic perovskite quantum dots, showing intense photoluminescence when illuminated with UV light. CsPbBr3 emit in the green and CsPbI3 emit red.

 

Graduate students developed the first solar cells from such quantum dots showing excellent performance. The research, Quantum dot-induced phase stabilization of OE±-CsPbI3 perovskite for high-efficiency photovoltaics, appears in the journal Science.
Photo by Science in HD / Unsplash, downloaded 25 August 2021.

According to the company, each of these solar farms has the ability to produce 20-100MW of energy.

In addition, Clearway also owns a utility-scale wind farm in Spanish Fork, Utah that can generate 1-20MW of energy.

Clearway's ownership stake in the Utah Solar Portfolio dates back to at least March 2017.

As noted on the company's website, Clearway owns or manages/maintains over 10.1 GigaWatts (GW) of renewable energy facilities worldwide, specifically

  • 1.3GW of solar,
  • 3.5GW of wind,
  • 320MW of community solar and distributed solar, plus
  • 5GW of O&M (owned/maintained) and/or Asset Management Services.

As is customary with larger transactions, the acquisition is slated to judicial and regulatory review, but is expected to close by the end of 2021.

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