US utility NRG has closed its acquisition of a 1.5GW renewable energy portfolio from bankrupt clean energy firm SunEdison.
The portfolio consists of over 1.5GW of utility-scale solar and wind projects either in operation or development, NRG said. The utility wrote in a blog post it agreed to pay $183 million for the transaction and is “well-positioned” to bring these projects into operation and eventually place them in its yieldco holding company, NRG Yield.
NRG’s purchase has given it a partnership interest in a 530MW operating portfolio of utility-scale solar projects in Utah, an ownership stake in a 154MW solar project under development in Texas, and full stakes in 1.1GW of solar and wind assets in various stages of development across the US.
In a separate agreement, NRG said it has closed a previous deal to purchase 29MW of distributed and community solar projects across 26 sites.
“Together, the acquisitions leverage the capabilities of our cross-functional platform, which is uniquely positioned to implement the range of projects – from utility-scale solar and wind to commercial and community solar,” the utility wrote.NRG’s operating renewables portfolio has now reached 4.7GW across 26 states, and renewables now account for more than 10 percent of its generation capacity.
SunEdison began shedding assets after filing for bankruptcy in April. Some of the assets it’s sold since then include 202MW of solar projects to Chilean utility Colbun SA, a 7MW portfolio of rooftop solar projects in India to Amplus Energy Solutions and the development rights of a 600MW wind project in Maine to Pattern Energy Group.