Acquisition Two

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plant capacity: 

39 MWDC

operation date: 
H2 2020

US Solar Fund (USF) announced the acquisition and financing of 100% of the cash equity interests in the 39MWDC portfolio of six assets (the Portfolio) on 23 December 2019.

Construction began immediately after financial close and the Portfolio is fully operational.

Each project in the Portfolio has executed a power purchase agreement (PPA) with subsidiaries of Duke Energy with a weighted average term of 13.1 years. Duke Energy is one of the largest electric power holding companies in the United States, providing electricity to 7.7 million retail customers in six states.

USF acquired the Portfolio from Cypress Creek Renewables, a leading US solar developer. The projects are being constructed on a fixed-time and fixed-cost basis by Horne Brothers Construction, a North Carolina-based solar installer which has successfully completed over 900MW of solar construction.

The projects will use First Solar and Solar Frontier’s high-performance thin-film modules and Cypress Creek Renewables will provide operations and maintenance services to the Portfolio.

Number of plants: 
6

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