Glidepath Ventures has sold a portfolio of early-stage utility-scale solar projects in the US totalling over 887MW to an unnamed clean energy-focused development and investment company.
The 887.5MW of projects are located in the PJM Interconnection regional transmission area and are expected online in 2022.
Glidepath Ventures originated and developed the regionally clustered utility scale projects in 2019.
Glidepath Ventures partner Carl Jackson said: “Glidepath was founded in 2017 to create a highly scalable and efficient approach to the origination and development of renewable energy projects.
“This transaction underscores the success of our scaled origination platform, which we are now deploying with similar success in multiple markets across the US.”
Glidepath Ventures partner Charles Silio said: “We’re very pleased to have placed this utility-scale project portfolio with a strong, capable developer who can carry these projects forward.
“Going forward, Glidepath will continue to build on our portfolio of more than 2GW of early- and mid-stage solar energy projects and to engage with best-in-class financial and operational partners.”
The transaction follows Glidepath’s recent announcement of a 278MW investment by Grasshopper Solar, bringing its total portfolio in Pennsylvania to more than 1GW.
Redwood Energy was financial advisor and GreeneHurlocker legal counsel to Glidepath Ventures on the transaction.