Renewco Power (Renewco) expanded its renewables platform into the U.S. with the acquisition of a 1.5GW pipeline of early stage utility-scale solar projects alongside 500MW of battery storage projects from Beaufort Rosemary, an experienced Virginia-based developer in June 2021. In addition to the acquisition, Beaufort Rosemary will continue to lead the development of the portfolio and both companies will support each other to build a scaleable renewables platform.
Jointly, Renewco and Beaufort Rosemary intend to develop more sites, with the goal to bring 3GW of solar and storage projects to the ‘ready to build’ stage within 5 years. Our focus is on states in the southeast and midwestern US where there is a lower penetration of renewables, and which have new ambitious clean energy generation goals. Projects range from 50 to 300MW solar PV plus battery energy storage systems (BESS) sized to site and market specifics. In addition, we are actively exploring standalone BESS projects.
We work to acquire land and interconnection rights in attractive locations and to secure the necessary relationships to bring sustainable, renewable power to local areas. Our goal is to provide competitive pricing, high quality service and value to customers and local communities.
For Communities and Landowners: Solar is a passive form of technology, providing local and sustainable electricity that adds security to the world’s energy mix. This, combined with its affordability and reliability during peak electricity demand periods, makes it an ideal energy source. Solar offers several advantages to communities and landowners:
- Through environmental impact assessments and best practice land management, solar farms can be designed to enhance habitats and boost biodiversity.
- Solar farms do not emit any noise beyond the site boundaries. Once installed there is minimal maintenance activity required.
- Solar farms can help strengthen rural economies by creating local jobs, contributing significant property tax revenue and providing dependable revenue to landowners in order to supplement farm income.
For energy buyers, investors and other commercial parties: We are focussed on developing high-quality, low-cost utility-scale renewable development assets. We can only bring these developments to fruition through meaningful partnerships with the wider community of energy off-takers, buyers and other commercial parties. Both Renewco and Beaufort Rosemary have a reputation for developing strong relationships in the past with these parties and we look forward to doing so going forward.