Acciona buys 240-MW solar mission in Texas

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Renewable energy developer Acciona has acquired a 240 MW solar project in Fort Bend County, Texas from Diode Ventures, a Black & Veatch company that develops global infrastructure.

With the transaction, Acciona expands its domestic presence in US solar. Solar and wind projects owned and operated by Acciona generate more than 1,000 MW of electricity in the US and Canada, with more being developed. With three wind projects in Cameron County, Texas, the Fort Bend project is Acciona’s fourth investment in the state and the first solar PV project in Texas. While still in operation, Fort Bend will provide the company with more than 750 MW of renewable capacity in Texas. Acciona is committed to delivering 1,600 MW of new solar energy in the US by 2023.

The project, which is expected to create around 300 jobs during the construction phase, will take place on the territory of the Electric Reliability Council of Texas (ERCOT).

Diode Ventures has partnered with Enfinite Capital to develop the Fort Bend Solar project to FNTP (Full Notice to Proceed) status. As an investment and asset management company, Enfinite Capital specializes in renewable energies, infrastructure and real estate. Diode purchased the Fort Bend Solar project in 2018 from global real estate group and contractor Lendlease.

“As the demand for solar energy continues to grow as a cleaner, greener utility company, we are excited to see this ambitious venture come closer to a reality,” said Brad Hardin, president of Diode Ventures. “This is another important step towards sustainability and reducing our carbon footprint in an evolving electronics market. We are proud to be a part of it.”

“We are excited to invest in Fort Bend County and drive this solar project forward,” said Rafael Esteban, CEO of Acciona North America Energy. “This is an opportunity to continue our success in the state of Texas. The Fort Bend project will be a flagship of our US portfolio and will demonstrate our commitment to creating value for our shareholders while promoting economic development and sustainability. “

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