Spanish renewables developer X-Elio has acquired the 103MW Lily solar project in South Carolina from US-based National Renewable Energy Corporation.
Construction of Lily is underway with commercial operations expected by the end of 2019. A 20-year power purchase agreement is in place with South Carolina Electricity and Gas. X-Elio is arranging tax equity and construction financing with undisclosed entities.
Narenco will continue to participate in the project, providing engineering, procurement and construction, as well as operations and maintenance when the plant starts production.
X-Elio chief executive Jorge Barredo said: “This acquisition is another step in our ambitious growth strategy in the US, one of the key markets of X-Elio, and we are delighted to have established this relationship with Narenco.
“They have done outstanding work during development, and we are confident that they will keep exceeding expectations during the construction and operation phases.”
Narenco president Jesse Montgomery said: “We are excited about the opportunity to partner with X-Elio and their skilled team in order to deliver a completed project that will be one of the largest solar installations in the south-east US.”