Leeward Renewable Energy officially owns the Solar Development Platform previously owned by First Solar
After a successful acquisition, Leeward Renewable Energy, LCC is the new owner of a solar platform once owned by First Solar. The ownership took effect on 31st March 2021. Whereas some of its projects are complete, others remain proposed up to date. However, if things go as planned, there are high chances that their construction will begin in the coming years, two to be precise. The upcoming projects will have a cumulative capacity of 773 MW. An excellent example of an operational project of the same is the Barilla Solar Project, and its capacity is 30 MW.
Leeward is a renowned renewable energy firm that’s relatively growth-oriented. Equally important, it is an OMERS Infrastructure portfolio company. Before this particular acquisition, it was one of the major companies in the renewable energy sector. So, the new capacity makes it stand even stronger than before amongst the industry’s giants. In addition to that, its solar development portfolio has also increased and stands at 14 GW at the moment. As far as the geographic footprint is concerned, it is also leading in the Southwest and Southeast of the United States. Since every GW is enough to power up to 230,000 homes, you can imagine what its entire portfolio can handle.
According to Leeward’s CEO, Jason Allen, the acquisition accelerates the company’s growth. After all, the development platform offers it a solar pipeline advanced enough to facilitate the acceleration. Consequently, Leeward manages to serve its customers accordingly. He also adds that Leeward appreciates the development team of First Solar becoming part of the firm to work jointly to develop sustainable renewable energy.
On the other hand, Tom Frazier, who serves in OMERS Infrastructure as the managing director, commends Leeward. He says that the acquisition emphasizes how confident OMERS Infrastructure is in Leeward. Besides, it is its way of supporting Leeward’s growth strategy. On behalf of his company, he thanked First Solar for its significant role in this transaction. He also congratulated Leeward for the progress. It believes that the acquisition was a way of expanding its clean energy investment. OMERS Infrastructure also appreciated its investment in Leeward as it plans to be part of this growing industry. Its plan, in the long run, is to raise its footprint in the sector.
The acquisition resulted in referees as well. It saw 50 members leave the First Solar development team for that at Leeward. Consequently, the number of employees working at Leeward increased to around 200. By the end of this year, the number might increase further since more people are expected to be hired.