Power funding platform CleanCapital has acquired renewable vitality developer BQ Power (BQE), including 300MW of late-stage photo voltaic growth to its pipeline.
The developer operates in several markets – group photo voltaic, business and industrial (C&I) photo voltaic and utility-scale photo voltaic – with the particularity of creating in “environmentally compromised” websites resembling coal vegetation, refineries or mines.
In addition to the 300MW of tasks in late-stage growth, BQ Power will even add 700MW of photo voltaic tasks in mid-stage growth.
CleanCapital is to fund the event of BQE’s long-term pipeline, with the developer changing into a completely owned subsidiary.
Paul Curran, CEO at BQ Power, stated: “Working underneath the CleanCapital umbrella gives large synergies for our groups. With CleanCapital’s monetary backing, our growth group can give attention to what they’re nice at—reasonably than elevating capital piecemeal, we will get extra brownfield photo voltaic tasks developed and constructed.”
Final month, the funding platform had secured a US$200 million credit score facility that might assist its pipeline of distributed photo voltaic and vitality storage tasks within the US.
