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Acciona to acquire 4,000-MW solar, energy storage development portfolio in US

Spain-headquartered renewables developer Acciona SA has agreed to acquire a development portfolio comprising 3,000 MW of utility-scale solar and 1,000 MW of co-located solar and energy storage in the U.S. from independent power producer Tenaska Inc. Financial terms of the deal were not disclosed.

The solar and storage assets in the development pipeline are in seven states — Illinois, Kansas, Kentucky, Missouri, Ohio, Oklahoma and Pennsylvania — according to a jointly issued news release Oct. 21. The portfolio includes 20 solar projects in the PJM Interconnection and Southwest Power Pool markets.

Tenaska, through its Tenaska Solar Ventures unit, will remain involved in completing the development of the projects with Acciona.

Acciona targets commissioning eight projects by the end of 2023, adding around 1,500 MW of peak capacity to its North American renewable energy portfolio. Its current portfolio in the continent includes 1,245 MW of installed and under-construction wind power, and the 64-MW Nevada Solar One facility outside of Las Vegas.

Tenaska, according to the news release, currently has about 8,000 MW of gas-fired and renewable energy capacity in operation, with the output mostly under long-term contracts. Its Tenaska Solar Ventures division provides development services to about 40 projects across the U.S. totaling 6,000 MW of capacity.

"This provides ACCIONA with an opportunity to build upon our investments in wind energy and increase our commitment to renewable energy and sustainability in the United States through solar PV and energy storage technology," said Rafael Esteban, CEO of Acciona's energy division in North America.