KKR buys 69 MW of solar PV projects in Ontario from Starwood Energy

The SSM plants were completed in May 2012
The SSM plants were completed in May 2012

KKR & Co. LP (New York, New York, US) has purchased 69 MW-DC (60 MW-AC) of solar photovoltaic (PV) plants in Sault Saint Marie, Ontario, Canada from affiliates of Starwood Energy Group Global LLC (Greenwich, Connecticut, US).

The three SSM Solar plants currently have 20-year contracts with the Ontario Power Authority through its Renewable Energy Standard Offer Program (RESOP). The companies did not disclose terms of the transaction.

"Ontario has been at the forefront of encouraging new development to bring additional renewables capacity online, and with this acquisition, we are playing a meaningful role in the growth of renewables in the province," said KKR Head of North American Infrastructure Raj Agrawal.

"When it comes to infrastructure, renewable energy is one of our top priorities; not only is the sector a critical part of energy supply diversity, but these investments can also provide investors with highly predictable long-term income streams."


Plants utilize Q-Cells PV modules

EDF Renewable Energy (San Diego, California, US) will continue to handle operations and maintenance for the SSM projects, and Starwood affiliate Nautilis Solar Energy (Summit, New Jersey, US) will provide asset management services.

The SSM plants comprise more than 300,000 Q-Cells crystalline silicon Q.BASE PV modules.




2013-02-18 | Courtesy: Starwood Energy; Image: Q-Cells | © Heindl Server GmbH

Our editorial selection of breaking solar news is published at: