International renewables firm buys 194 MW utility-scale portfolio

Sammons Renewable Energy purchased a 194 MW DC utility-scale solar portfolio in North Carolina from North Carolina-based independent power producer Heelstone Energy Holdings, who will maintain and manage the assets.

Heelstone currently supports operations and maintenance for more than 275 MW (dc) of projects.

Financial details of the project were not disclosed at press time.

Sammons Renewable Energy is owned by Sammons Enterprises, a Texas-based holding company which owns $84 billion in assets across various markets. Its renewable energy portfolio is managed by Pennsylvania-based Franklin Park Investments, which has a portfolio of infrastructure investments around the world, including solar.

“We are confident that the portfolio has found an ideal long-term home with Sammons,” said Will Owens, member of the board of managers and managing director of Heelstone. “As we look to the future, we are well positioned with our current pipeline to develop and bring additional solar PV projects to completion.”

“The Heelstone assets are a compelling fit for the Sammons portfolio,” said Kevin Lapidus of Franklin Park.