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Innogy wins exclusive rights for 440 MW of solar projects in US

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Innogy wins exclusive rights for 440 MW of solar projects in US

Germany-based energy company Innogy SE secured sole and exclusive rights to purchase 13 planned solar projects in the U.S.

Under an agreement announced June 18, innogy subsidiary BELECTRIC GmbH will construct the solar portfolio of approximately 440 MW with Charlotte, N.C.-headquartered Birdseye Renewable Energy LLC and operate the projects after acquisition.

The construction of the first 20 MW of three late-stage solar projects will begin in early 2019 in North Carolina and will be commissioned later that year. The remaining 420 MW in 10 early stage projects will be sited in Georgia, Mississippi, North Carolina and South Carolina.

"Birdseye's development pipeline and local active engagement with all stakeholders are a perfect fit with our strategy to deliver utility-scale solar projects in promising markets, like North America, with high irradiance and a strong commitment to renewable energy," Innogy SE Renewable COO Hans Bünting said in a news release.

The company said individual projects will be taken in line with the company's targets regarding leverage and financial stability.

Innogy is a subsidiary of RWE AG, though it has been offered to another German utility company, E.On AG. Innogy established a U.S. business in 2016.