As more and more renewable energy projects go online, owning these assets is becoming big business, and attracting a wider range of institutional investors. As the latest development, New York’s Novatus Energy took another step into solar PV by acquiring the 156 MW-DC Comanche solar project in Pueblo County, Colorado.
Comanche is the largest single-site PV plant in Colorado, and holds a 25-year power purchase agreement with Xcel subsidiary Public Service of Colorado, which was won through an open solicitation. The project features single-axis tracking technology.
The acquisition of Comanche brings Novatus to 1.6 GW of operational renewable energy assets in the United States. While the majority of this is wind, Novatus now owns 543 WM-AC of solar.
Despite many struggles between the state’s solar industry and Xcel, Colorado has been a significant market for large-scale solar PV, reaching 926 MW-DC online by the end of 2016.