BluEarth Renewables US, a renewable energy company, has purchased a 1 GW wind and solar development project in Colorado from NorthRenew Energy for an undisclosed sum. The Eads Wind and Solar Project is located in Kiowa and Cheyenne Counties and is expected to be completed in multiple phases.
This is BluEarth’s second contract with NorthRenew in 2022, following the purchase of the 247 MW Buffalo Branch wind project in Missouri by BluEarth in February 2022. BluEarth’s existing development portfolio, which includes more than 1 GW of advanced development utility-scale wind projects across North America, is expected to be bolstered by this latest agreement. BluEarth Renewables’ portfolio also includes early-stage development projects with a combined capacity of more than 3 GW.
The Eads Wind and Solar Project is said to be a key part of Colorado’s 2030 emissions reduction strategy. BluEarth has stated that it will help the state’s efforts to further decarbonise its electric grid.
BluEarth Renewables, based in Calgary, Canada, acquires, develops, builds, owns, and operates wind, hydroelectric, and solar power plants across North America. The company’s portfolio includes 673 MWac of operational or planned capacity, as well as 800 MWac of projects with power purchase agreements or offtake agreements in the process.
REGlobal’s Views: This latest acquisition by BluEarth will significantly expand the company’s renewable energy portfolio in the US and establish its position in Colorado’s renewable energy market.