Redeux Energy Partners LLC, a developer specializing in solar and storage projects, has divested a 450-MW portfolio of utility-scale photovoltaic (PV) schemes in the United States to industry player Pine Gate Renewables.
The portfolio encompasses three projects located in the MISO South energy market, an area experiencing heightened demand for renewables, according to the vendor's announcement on Monday. Financial terms of the transaction were not disclosed.
This divestment marks the first step in Redeux Energy's larger strategy to sell off an over 1.7-GW DC portfolio unveiled in late 2023. The 11 schemes available for sale are situated across seven states in the SERC and MISO energy markets.
CEO Rob Masinter emphasized the significance of the transaction, stating, “This transaction demonstrates that the scale and quality of projects we are delivering aligns with the needs of world-class independent power producers (IPPs) as well local landowners and communities.”
Headquartered in Denver, Colorado, Redeux boasts a pipeline of approximately 7 GW of solar and 7 GWh of energy storage projects spanning across the ERCOT, MISO, SERC, and WECC energy markets. The company aims to bring additional multi-GW portfolios to market on an annual basis.
