BluEarth Acquires 1 GW Solar & Wind Portfolio from Ozone Renewables in USA

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Canadian power producer BluEarth Renewables has announced that it has acquired seven wind and solar development projects in the United States. The total acquired renewable energy capacity is about 1 GW from Connecticut-Based renewable energy giant Ozone Renewables.

BluEarth mentioned in its official release that the green energy portfolio is acquired in Washington, Oregon, Ohio, and Oklahoma of the US. Financial details of the acquisition have not been provided by the firm.

With the fresh acquisition, BluEarth claims that its development pipeline now totals more than 7 GW of high-quality wind, solar, and storage development projects that are actively being advanced.

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The acquired projects will be developed under a development services agreement with Pivot Power Management that has significant development expertise in these markets that will complement the development team of BluEarth.

This is the second acquisition by BluEarth from Ozone. Grant Arnold, President and CEO of BluEarth, said, “This combination of projects fit well into BluEarth’s strategic growth plans, and we look forward to working with the experienced team at Pivot to advance development.”

“We are happy to expand our partnership with BluEarth through this acquisition and confident that our collaboration will continue to deliver successful projects,” said Nick Henriksen, VP of Greenfield Development for Pivot.

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Larry Seiler, Head of Development for Ozone Renewables, stated, “We are aligned in BluEarth’s mission to accelerate the deployment of high-quality renewable energy assets in North America and appreciate the opportunity to play a key role.”

In 2022, BluEarth acquired 2 GW of development projects located in Pennsylvania, Missouri, Ohio, Colorado, and Nevada in addition to various greenfield projects. Construction is also underway on nearly 200 MW of new projects in Alberta and the 280 MW Two Rivers Wind Project in Wyoming is expected to begin construction in 2023.

Besides, the company secured a $100 million debt financing for its solar and storage projects in the US from Fundamental Renewables.