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					</table><p><a href="https://bluearthrenewables.com/" target="_blank" rel="noopener">BluEarth</a>, an independent renewable power producer, has acquired a group of seven wind and solar projects in the U.S. from the renewable energy developer <a href="https://www.ozonerenewables.com/" target="_blank" rel="noopener">Ozone Renewables</a>.</p>
<p>The projects, with a total capacity of about 1 GW, are located in the states of Ohio, Oklahoma, Washington, and Oregon.</p>
<p>The deal marks BluEarth&#8217;s second acquisition from Ozone.</p>
<p>BluEarth’s growing development pipeline now totals over 7 GW of wind, solar, and storage projects in its expanding development portfolio.</p>
<p>In 2022, BluEarth acquired 2 GW of development projects located in Pennsylvania, Missouri, Ohio, Colorado, and Nevada, in addition to various greenfield projects.</p>
<p>Currently, the company is constructing nearly 200 MW of new projects in Alberta, and the 280 MW Two Rivers Wind Project in Wyoming is expected to begin construction in 2023.</p>
<p>BluEarth will develop the acquired projects through a development services agreement with Pivot Power Management (<a href="https://pivotgen.com/" target="_blank" rel="noopener">Pivot</a>) which is expected to bring expertise in these markets.</p>
<p>“We are excited to grow our development portfolio with the addition of these projects, which are well positioned in key markets across four states,” said Grant Arnold, President and CEO of BluEarth.</p>
<p>Arnold added this combination of projects fits well into BluEarth’s strategic growth plans.</p>
<p>“We are happy to expand our partnership with BluEarth through this acquisition and confident that our collaboration will continue to deliver successful projects,” said Nick Henriksen, VP of Greenfield Development for Pivot.</p>
<p>“Ozone is proud to have originated and delivered a meaningful development portfolio to BluEarth…we are aligned with BluEarth’s mission to accelerate the deployment of high-quality renewable energy assets in North America and appreciate the opportunity to play a key role,” said Larry Seiler, Head of Development for Connecticut-Based Ozone Renewables.</p>
<p>In July 2022, BluEarth <a href="https://www.mercomindia.com/project-finance-brief-bluearth-acquires-solar-wind-project-us" target="_blank" rel="noopener">acquired</a> the solar and wind project in Colorado from NorthRenew Energy, a US-based renewable and sustainable project developer. The project, located in Kiowa and Cheyenne counties, is expected to be developed in multiple phases of new solar and wind generation.</p>
<p>Last October, Pivot Energy <a href="https://www.mercomindia.com/project-finance-brief-pivot-energy-raises" target="_blank" rel="noopener">secured</a> $100 million in debt financing for its renewable energy projects from Fundamental Renewables, an investment arm of Fundamental Advisors. Fundamental Renewables provided a $100 million revolving development loan facility to Pivot Energy, funding a diverse range of solar and storage projects across the U.S.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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BluEarth Acquires Seven Solar and Wind Projects of 1 GW Capacity in the US

<p><strong>BluEarth, an independent renewable power producer focused on acquiring, developing, constructing, and operating wind, hydro and solar projects across the US, has </strong><a href="https://mercomcapital.com/bluearth-acquires-eads-solar-wind-project/"><strong>acquired</strong></a><strong> the Eads solar and wind project in Colorado from NorthRenew Energy, </strong>a US-based renewable and sustainable project developer. The project, located in Kiowa and Cheyenne Counties, is expected to be developed in multiple phases of new solar and wind generation. The current acquisition adds to BluEarth’s existing portfolio of over 1 GW of utility-scale wind projects in Canada and the U.S and over 3 GW of early-stage development projects.</p>
<p><strong>Energy storage developer EnerSmart Storage </strong><a href="https://mercomcapital.com/enersmart-storage-secures-storage-project-us/"><strong>secured</strong></a><strong> a $78.2 million loan from the North American Development Bank (NADBank), Siemens Financial Services, </strong>to finance a portfolio of utility-scale energy storage projects with a combined capacity of 165 MW. The projects will be constructed at nine sites in San Diego County, California. This is the first project financing of fully merchant battery storage projects in the U.S. The projects can store up to 330 MWh of electricity, the equivalent of supplying 110,000 customers for up to two hours. The projects are expected to charge and discharge approximately 87,650 MWh of energy annually. Electricity from the grid will be stored and delivered through existing transmission lines owned and maintained by San Diego Gas and Electric.</p>
<p><strong>Magnora’s </strong><strong>portfolio company Helios Nordic Energy has sold two ready-to-build solar PV projects in Sweden with a combined capacity of 32 MW to Norwegian IPP Solgrid </strong>&#8211; a company owned by Norwegian utility companies Akershus Energi, Ostfold Energi, and others. The projects are scheduled to come online in 2023/24. Setterwalls has acted as a legal advisor to the seller.</p>
<p><strong>The City of Zurich Pension Fund (PKZH) has </strong><a href="https://renewablesnow.com/news/swiss-pkzh-buys-stake-in-489-mwp-solar-park-in-portugal-785998/"><strong>acquired</strong></a><strong> a 49.5% interest in a 48.9 MW solar project in southern Portugal from its strategic partner, Swiss utility company EKZ.</strong> The Cotovio solar project is built in a mountainous area in the coastal city of Portimao in the south of the country. The project features more than 100,000 solar panels installed on high slopes of around 30º. The project offsets 34,026 tons of carbon emissions per year, according to renewables operator Voltalia, which was the EPC contractor for the project. The solar park was commissioned in 2021.</p>
<p><strong>Blue </strong><strong>Elephant Energy (BEE), a Hamburg-based independent operator of solar and wind projects, has </strong><a href="https://greencells.com/wp-content/uploads/2022/05/25.05.2022_PM_Hoogeveen-II_engl.pdf"><strong>acquired</strong></a><strong> a 10 MW construction-ready PV project in the Netherlands from Greencells Group,</strong> a global developer as well as EPC and O&amp;M service provider for utility-scale solar projects. Greencells also contractually secured the upcoming EPC work and all O&amp;M services after the commissioning for the project, which it developed itself to ready-to-build status.</p>
<p><strong>Brazilian </strong><strong>power trading company Comerc Participacoes has </strong><a href="https://renewablesnow.com/news/comerc-to-acquire-285-mwp-of-solar-dg-power-in-brazil-785716/"><strong>signed</strong></a><strong> an agreement to acquire 28.5 MW of solar distributed generation (DG) projects in the state of Minas Gerais. </strong>It has made the BRL 200 million (~$41.3 million) deal through subsidiary Ares 2 Participacoes with selling parties Brazilian investment bank Banco BTG Pactual and US-based renewables developer Energea Global. Under the agreement, Comerc is set to acquire all shares of a special purpose entity that will own the capital of four vehicles that hold the solar DG capacity.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/">here</a>.</p>
<p>Read last week&#8217;s project finance <a href="https://mercomindia.com/project-finance-brief-bluefield-solar-battery-storage/">brief</a>.</p>
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Project Finance Brief: BluEarth Acquires 1 GW Solar and Wind Project in the US

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