London-based Lightsource BP Renewable Energy Investments Ltd on Aug. 8 announced the purchase 135 MWdc of solar projects, located in the PJM Interconnection market, from Orion Renewable Energy Group. Financial terms of the transaction were not disclosed.
The acquisition follows the Pennsylvania Department of Environmental Protection's draft plan to develop 11,000 MW of solar resources in the state, aiming to deliver 10% of state's power retail sales by 2030. The portfolio consists of six development projects, mainly located in Pennsylvania and Maryland.
"We are accelerating the development of solar with a strong focus on new and underserved markets, as it is an important component of a diverse fuel mix," Lightsource BP Group CEO Nick Boyle said in an statement.
Lightsource BP in December 2017 entered a partnership with BP PLC to pursue solar deployments globally. The company is actively developing projects for cooperative, municipal and investor-owned utilities throughout the United States.