Newly established renewables developer Proteus Power has started the development of three solar projects in Alberta, Canada, with a total capacity of 234MW.
The projects will be co-located with 97MW of battery storage.
The developer is also evaluating over 30 renewable projects in its initial target areas of Texas, Arizona, Nevada, Utah, Colorado, New Mexico and Alberta, Canada.
Proteus has recently set up its US headquarters in The Woodlands, Texas.
Led by industry veterans and financially backed by global clean energy investor, Pelion Green Future, Proteus Power has a target to develop and construct over 3GW of solar, wind and battery energy storage projects in North America.
The developer’s strategy hinges on developing “exceptional assets” that will allow the company and its partners to invest in bankable renewable energy projects that are strategically placed to secure long-term power purchase agreements (PPAs) with corporate or industrial purchasers.
Proteus manages the entire project value chain, providing quality projects to co-investors, competitive PPAs to off-takers and long-term and predictable financial returns to the landowners it partners with to develop projects.
The company’s management team is led by CEO Mike Lambros.
“We have assembled a tremendous team with an invaluable network and expertise and are very excited to partner with Pelion Green Future to deliver an excellent portfolio of renewable energy projects,” said Lambros.