Exus North America has acquired a 306MW wind portfolio in Pennsylvania.
The portfolio comprises four operational wind farms, marking a significant expansion of Exus’ owned and operated renewable energy portfolio and further solidifying its position as a key player in the clean energy sector.The portfolio includes the Highland North, Twin Ridges, and Patton wind farms, totalling 244MW, acquired from Vitol, and the 62MW Cambria wind farm, acquired from Oppidum Green Energy. Three of the wind farms are set to undergo repowerings from 2024-2027.
Vitol will provide the tax equity financing for the wind repowerings.
This strategic acquisition aligns with Exus’ accelerated evolution from asset manager to renewable independent power producer (IPP).
This follows its recent acquisition of New Mexico Renewable Development, comprising a 15-project, 625MW solar portfolio, from PNM Resources and American Electric Power.Jim Spencer, president & chief executive of Exus North America, said: “Pennsylvania’s natural wind resource coupled with a growing demand for renewables in the state make it an ideal location for us to further our ambitions of advancing highly productive renewable energy solutions in North America.
“This acquisition underscores our dedication to intelligently expanding our renewables footprint, while continuing our commercial transition to an established independent power producer in the region.”R Andrew de Pass, head of renewable and sustainable investments at Vitol, said: “Vitol is pleased to sell its equity interests in Twin Ridges, Highland North, and Patton to Exus, a highly experienced wind developer and operator.
“The repowering of these projects will increase capacity by 25%.
“Our tax equity financing of this repowering underscores Vitol’s commitment to investing in the energy transition.”