Alterra Power Corp has reached agreement with Inovateus Solar to acquire an 80% stake in two solar farms totalling 20MW in the US midwest.
Alterra is developing and arranging financing for the first project, a 7MW facility in Indiana that is expected to be complete by the end of 2016.
The second 13MW project is in Michigan and is planned to be developed in 2017, the company said.
Both solar farms are contracted under long-term, investment-grade power purchase agreements, Alterra added.
Alterra vice president of project finance Jon Schintler said: “We’re pleased to develop these solar projects alongside Inovateus, and hope to extend this partnership to other US projects.”
Image: Morgue File
Alterra takes US solar interest
80% stake in two projects totalling 20MW in Indiana and Michigan
By EBS