By Blake Jackson
Exus North America, a renewable energy company focused on asset management and development, announced a significant expansion of its operational portfolio through the acquisition of 306 megawatts (MW) of wind farms in Pennsylvania. This strategic move strengthens their position as a key player in the clean energy sector.
The deal involves acquiring several wind farms: three totaling 244 MW from energy and commodities company Vitol (including the Highland North, Twin Ridges, and Patton sites) and a separate 62 MW wind farm (Cambria) from Oppidum Green Energy. Notably, three of the acquired wind farms are slated for upgrades between 2024 and 2027, with financing provided by Vitol.
This acquisition signifies a critical shift for Exus North America. The company is transitioning from primarily managing renewable energy assets for others to becoming a renewable independent power producer (IPP). This strategic move follows their recent acquisition of a substantial solar project portfolio (625 MW) from PNM Resources and American Electric Power.
"This acquisition underscores our dedication to strategically expanding our footprint in the renewable energy sector," said Jim Spencer, president and chief executive of Exus North America. "Furthermore, it marks a significant step in our commercial evolution as we solidify our position as a leading independent power producer in the region." By not only managing renewable energy assets but also owning and operating them, Exus North America gains greater control over energy production and potentially increases its long-term profitability.
Photo Credit: gettyimages-leightrail
Categories: Pennsylvania, Energy