Competitive Power Ventures Acquires 460MW of Solar Projects from Belltown Power
Braintree, MA, November 8, 2021 – Competitive Power Ventures (CPV) has completed the acquisition of two solar photovoltaic (PV) projects under development from Belltown Power USA Development, LLC (Belltown). This transaction includes the 360MW Prairie Dock Solar project in Illinois and the 100MW Stonecrop Solar project in Kentucky. Once operational these two solar projects are expected to generate enough clean electricity to power approximately 87,000 homes.
“This acquisition builds on CPV’s strategy to rapidly expand our renewable footprint as we lead America’s transition to a clean, responsible energy future,” said CPV CEO Gary Lambert. “We look forward to working with Belltown Power to bring these solar projects to fruition as we work towards a low-carbon future.”
“We are excited to have completed this transaction with CPV,” said Hernan Farace, CEO of Belltown Power. “Our teams worked seamlessly throughout the execution process, and we look forward to supporting CPV in the ongoing development of these projects – and hopefully many more to come.”
CPV currently has approximately 3GW of renewable energy projects in development. The Prairie Dock and Stonecrop projects are expected to begin construction in the second half of 2023.
CPV Group LP (CPV), a partnership majority owned by OPC Energy Ltd., is uniquely positioned to leverage global technology and financial partnerships to help modernize America’s power generation. Together with our investors, partners, host communities and other key stakeholders, we are driven to improve our energy infrastructure by developing and operating power generation facilities using cutting edge, clean and highly efficient natural gas and renewable power technologies. Headquartered in Silver Spring, MD, with an office in Braintree, MA, the company has ownership interest in 5.5 GW of clean generation across the United States. The company’s Asset Management division currently manages 7.1 GW of generating facilities in nine states. Our focus on Environmental, Social and Governance (ESG) and sustained track record of success have enabled us to grow into one of North America’s premier energy companies. For more information: www.cpv.com and follow CPV on Twitter and LinkedIn.
Belltown is a developer of solar photovoltaic and storage projects primarily in PJM and ERCOT that started operations in the USA in late 2016. Belltown focuses on greenfield development and typically advances its projects to ready-to-build while often staying involved through NTP and COD. The company has a strong track record of outstanding development, having completed 14 transactions involving over 2.5GW of generation and storage. In addition, Belltown continues to work on its active pipeline of 30+ projects and over 5GW.