Infigen sells US solar assets

Australian renewable energy developer Infigen Energy has sold two of its US solar photovoltaic (PV) development projects to US energy firm Duke Energy Renewables, a business unit of Duke Energy.

The developments (Wildwood I and Pumpjack) are located in California and have development approval for installed capacity of 20MW each.

The projects are in a construction-ready state, including securing transmission connection agreements and 20-year power purchase agreements with Southern California Edison.

The move marks the first step of a multi-stage development opportunity Infigen has cultivated within California. Located adjacent to the Wildwood I and Pumpjack projects, the fully permitted Wildwood II (15MW), Rio Bravo (20MW) and Rio Bravo II (20MW) projects are now among the company’s most prospective development opportunities.

Infigens US chief executive officer Craig Carson the company is pleased its first development efforts in solar PV have succeeded in bringing together strong counterparties such as Southern California Edison and now Duke Energy Renewables.

“We expect the experience gained and the relationships created on these first solar projects to emerge from our development pipeline will deliver significant benefits for our future development opportunities,” he said.

Infigen also has an equity interest in 18 US wind farms of 1,089.4MW with an average net capacity factor of 35 per cent and an expected annual energy production of 3,312.6GWh, as reported by Energy Business News. The company has wind farms in California, Colorado, Illinois, New Jersey, New Mexico, Oklahoma, Oregon, Pennsylvania and Texas.

In February Infigen announced it had narrowed its financial losses, with its loss of $15.3 million, showing an improvement of $12.5 million on the previous year.

No purchase price for the US solar project sales were revealed.