Lydian Energy Acquires 1.5 GW Atlas North Solar and Storage Portfolio from Hanwha Renewables in California
Lydian Energy has acquired the Atlas North portfolio from Hanwha Renewables, comprising four late-stage solar and storage projects totalling more than 1,000 MW of solar and 450 MW / 1,800 MWh of BESS in California. Most capacity is contracted under long-term agreements with California load-serving entities. The deal is Lydian's largest to date, bringing its total portfolio to 4.4 GW across 18 projects.
Transaction date: · Source: citybiz.co
Key facts
- Transaction date
- Technology
- Solar PV, Battery Storage (BESS)
- Capacity
- 1,500 MW
- Transaction price
- Not disclosed
- Seller
- Hanwha Renewables
- Country
- United States
- Region
- California
- Location
- California, USA (CAISO market)
- Continent
- North America
- Development status
- Under Development
- PPA
- Yes
Technology details
Four projects totalling more than 1,000 MW of solar generation capacity paired with 450 MW / 1,800 MWh of battery storage. Portfolio includes transmission infrastructure connecting projects to California's grid through the CAISO market. Assets are at a late-stage development phase with permitting, interconnection progress and power contracting milestones achieved.
Power purchase agreement (PPA)
Most electricity and capacity contracted under long-term agreements with California load-serving entities. Secured offtake contracts reduce revenue risk and improve financing prospects.
Additional information
Financial terms not disclosed. Most electricity and capacity already contracted under long-term agreements with California load-serving entities. Transaction marks Lydian Energy's largest investment to date, bringing its total portfolio to 18 solar and storage projects totalling 4.4 GW.
Source
Original announcement: https://www.citybiz.co/article/834730/lydian-energy-acquires-1-5-gw-atlas-north-solar-and-storage-portfolio-from-hanwha-renewables/