Sol Systems acquires 2 GW of solar and storage projects in the US Midwest

US renewables firm Sol Systems has acquired a portfolio of 2 GW of utility-scale solar and storage projects across various states within the Midwest from local energy company Tenaska.

The acquired pipeline comprises projects of more than 100 MW each, which are scheduled to be switched on between 2028 and 2029, the companies said in a joint press statement on Monday.

Under the agreement, Tenaska and Sol will partner on the development of the schemes through the construction phase, after which Sol plans to build, own and operate the facilities. The financial details of the transaction remained undisclosed.

The investment is aligned with Sol’s strategic growth plan. The company, which works together with customers and partners to build, finance and manage clean energy projects, is currently operating and building over 7 GW of solar projects valued at over USD 2 billion (EUR 1.81bn).

“We are thrilled to expand our relationship with Tenaska and build on the success we’ve achieved together in previous projects, including Eldorado Phase I and Eldorado Phase II,” said Matt Strangfeld, vice president of development strategy at Sol Systems.