S&B USA, previously known as Shikun and Binui America, agreed to acquire from Savion 100% of the Brazoria West Solar Project, a 260 MW behemoth about 40 miles southwest of Houston.
Construction is expected to start in the second quarter, with a commercial operation date expected in the first half of 2022. The project will supply power to the Houston area and has secured one commercial and industrial power purchase agreement (PPA) and another PPA with an energy trading company.
Established in 1924, Shikun & Binui Ltd. (S&B) is a construction, development, and real estate group based in Israel. This is the second major solar project acquisition that S&B USA has made since it entered the U.S. market in March 2020. The first acquisition, last December, was for a 49.5% interest in the 107.8 MW Beacon portfolio, alongside fellow energy investment firm TortoiseEcofin. The seller in that transaction, Capital Dynamics, retained 1% ownership.
The Beacon portfolio consists of two projects: Beacon II (59.6 MW) and Beacon V (48.2 MW). Both sites interconnect and sell power to the Los Angeles Department of Water and Power under two 25-year fixed rate PPAs. Capital Dynamics bought the assets from SunEdison in early 2016. The solar plants achieved commercial operation at the end of 2017.
The total Beacon project includes five phases. Hecate Energy developed three phases for a total capacity of 162 MW and SunEdison developed the remaining 88 MW in two phases.
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