Italian renewables and storage developer PLT Energia’s subsidiary PLT Energy US Corp has entered into a JV with GGS Energy to develop more than 1GW of renewable energy in Texas.
The JV’s first project will be the development and construction of its Indigo Project Phase I, located in West Texas totalling 330MW, comprising 150MW of PV and 180MW of storage.
Construction is expected to commence in June 2024.
The newly formed JV PLT US Solar 1, is 80% owned by PLT Energy US Corp and 20% owned by GGS Energy.
Pierluigi Tortora, chairman of PLT, said: “This dynamic JV with GGS Energy offers PLT a platform for international growth into the US market and advances our long-term goals of being a leader in the realisation of renewable energy projects globally.”
GGS Energy, a subsidiary of Glacier Global Partners, was formed in 2020 as an energy transition company focusing on developments of utility-scale renewable energy projects in the US with an initial focus on PV projects.
GGS energy chairman Yaniv Blumenfeld, said: “We are thrilled to embark on this journey with PLT Energia.
“In aligning with PLT, GGS Energy is not just forming a partnership; we are joining forces with a team whose trust and support reflect a deep alignment with our mission and values.
“This JV is a steppingstone for GGS’s growth and signals our collective commitment to transform the energy landscape.”