Canadian renewable energy developer Westbridge Energy has acquired the 221 MW Accalia Point Solar project from Aelius Solar. The project is located in Texas, near South Padre Island and the U.S. – Mexico border.
Construction is yet to begin, but project’s site has been finalized thanks to long-term leases covering approximately 1120 acres of cultivated farmland. Interconnection studies for the project have begun and the preliminary environmental analyses have been completed. Westbridge anticipates completion of the project and interconnection agreement to take place Q1 2023.
The acquisition represents the first foray by Westbridge into the American solar market, and the company now controls solar assets in Alberta, Canada and Texas. The company will likely expand into other states and Canadian provinces, as Stefano Romanin, CEO of Westbridge, shared that the company has a goal of “quickly expanding its portfolio of high-quality projects under development to become a leading renewables development platform in North America.”
Westbridge is committing up to $2,500,000 for the development of the project, including acquisition and transaction costs, and an approximately $2,000,000 at project exit. As part of the transaction, Aelius Solar Corp. will continue to support Westbridge with development activities under a services agreement.
In September, Westbridge announced that it had completed environmental and wildlife field study programs for one of the largest solar installations ever proposed in Canada: the 230 MW Georgetown Solar Project. The project is set to be constructed on 710 acres of privately owned farmland southeast of Calgary. Development began in early 2020, while construction is anticipated to begin in August 2022.
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