The renewables arm of Canadian tissue products maker Kruger Inc has offloaded a 523-MW mid-stage solar development portfolio in the US to local firm Ecoplexus Inc.
The deal was announced by the buyer last week but financial details were not provided. According to the press release, released on Wednesday, the specific portfolio is located in the states of Georgia and Tennessee and consists of five separate projects. All power plants in the bundle are planned to be switched on in 2022 and 2023.
The parties have agreed that renewables developer and independent power producer (IPP) Ecoplexus will continue developing the five projects.
At present, Kruger Energy manages and operates 542 MW of power assets in North America, including wind, solar, hydroelectric, biomass cogeneration plants and energy storage facilities.
CohnReznick Capital was Kruger Energy’s exclusive financial advisor in the transaction.
Source: renewablesnow
