Energy Storage News•about 1 month ago
Amazon buys ready-to-build Oregon solar-plus-storage project from bankrupt developer Pine Gate
Key Takeaway
Amazon's direct acquisition of a massive ready-to-build solar-plus-storage project from a bankrupt developer signals a growing trend of large corporate loads securing de-risked renewable assets to meet their power demands and sustainability goals.
AI Summary
- •Amazon has acquired the 1.2GW Sunstone solar-plus-storage project in Oregon, one of the largest in the US, from bankrupt developer Pine Gate.
- •This acquisition by a major corporate off-taker highlights the strong demand for large-scale, ready-to-build renewable assets and the increasing trend of direct ownership by large power consumers.
- •The transaction underscores the market for distressed assets and the importance of project viability and financial stability for developers in securing major off-takers.
Topics
datacenterfinancingm&asolarstorage