A joint venture (JV) between Sol Systems and insurance and financial services company Nationwide has wrapped up the purchase of the final 25 MW in a North Carolina-located solar portfolio developed by Cypress Creek Renewables.
The JV, namely Helios Infrastructure, has thus acquired a 148-MW bundle of 20 utility-scale projects worth more than USD 200 million (EUR 169m) in total. This includes 97 MW in operation and 51 MW under construction.
These assets were the subject of a framework agreement signed by the parties in June 2018. Since then, Helios has acquired and closed financing on the projects on a rolling basis, the announcement says. The largest of the projects is the 32-MW Ruff solar farm in Ellenboro that was put on stream in late July, 2020.
The Engineering and Project Management group of Cypress Creek is overseeing the construction of the remaining plants by Pure Power Contractors and CS Energy. The targeted placed-in-service date falls in December 2020.
Once completed, the solar parks will be serviced by Cypress Creek’s dedicated operations and maintenance (O&M) business.
