X-Elio Energy S.L. has acquired a development-stage solar project in South Carolina.
The Madrid-based company purchased the Lily Solar Plant from National Renewable Energy Corp., which will continue to operate and manage the project, and provide engineering, procurement and construction services.
The project, which is under development in Allendale County, has a planned capacity of 70 MW, according to S&P Global Market Intelligence. Eversheds Sutherland advised X-Elio on the deal.
Lily Solar will be South Carolina's largest solar project, according to the statement, and will have a 20-year power purchase agreement with SCANA Corp. utility South Carolina Electric & Gas Co.
X-Elio is 80%-owned by KKR & Co., with Gestamp Renewables owning the remaining 20%.
The portfolio company owns 140 MW of operating assets and upwards of 1 GW of projects under construction in the U.S. and Mexico, according to an Oct. 15 news release by Eversheds Sutherland.
X-Elio's operational portfolio includes the 50 MW Midway Solar Farm I in Imperial County, Calif., which came online in 2018.