Washington, D.C.-based Sol Systems LLC has acquired a 190 MW solar development project in Uvalde County, Texas, from Madrid-based ABEI Energy. Sol Systems acquired the project as part of its expanding Infrastructure + Impact business. ABEI Energy will continue to support Sol Systems during pre-construction development.
“This acquisition builds on Sol Systems’ growing footprint in Texas and is part of a strategic effort to grow our national infrastructure platform,” said Mak Nagle, chief development officer at Sol Systems. “We are excited to expand access to clean energy and to create new opportunities through the lifetime of the project.”
Sol Systems will construct, own and operate the project, which will bring millions of dollars in clean energy investment to the local community, create job opportunities, and drive economic growth in the county and the surrounding area.
“This is an important accomplishment towards ABEI’s long-term corporate strategy, enabling us to consolidate our position in the U.S. market,” Elvira Gutiérrez-Marcet, ABEI’s head of M&A. “Having worked closely with the county on this project since 2019, it is a great pleasure to see the project is close to starting construction and we are excited for the positive impact it will bring to the local community. Moving forward, ABEI remains committed to developing renewable energy projects in North America and Europe.”
Founded in 2008, Sol Systems is a national solar energy firm that has developed or financed more than 1.4 GW of solar projects valued at more than $1 billion and serving more than 20,000 U.S. customers. The company is actively developing more than 1.1 GW of new solar projects across the United States.
ABEI Energy is an Independent Power Producer (IPP) that integrates the management of electricity generation projects from renewable sources through PV, solar thermal, wind and hydrogen technologies, with more than 15 GW under development worldwide.
Tags: ABEI Energy, acquisition, Community Solar, project, Sol Systems
